The president lambasted Powell throughout 2018 as the Fed continued to tighten monetary policy and raise interest rates, which it typically does when it tries to curb inflation and ease the pace of expansion to prevent the economy from overheating.
Criticism of the Fed is unusual from a sitting president, with prior presidents taking a softer tone or refraining from weighing in on the direction of the central bank's policies. In breaking with that tradition, Trump has blamed the Fed and its leader for swings in the stock market and undermining trade deliberations with Beijing.. "I think the Fed has gone crazy."
The Fed instituted nine quarter-point hikes between Dec. 16, 2015, and Dec. 19, 2018, the last time it raised rates. It has cut rates three times in 2019 in what it characterized as a "midcycle adjustment." To be sure, the U.S. stock market has soared since Trump's victory over Hillary Clinton in 2016, with theup more than 40%. The broad market index touched a new all-time high on Tuesday as investor concern over the U.S.-China trade war eased.
Though investors aren't certain whether the two nations are close to a permanent deal, stocks have rallied to records in recent weeks in expectation of a sort-of trade truce.
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tpham26863223 Wouldn't it be great to hear Fed Chair Powell respond about Trump wanting lower, and even negative interest rates with ' My 6 year old grandchild has more financial knowledge and sense than Trump and his advisors have in total.'
breakingnews Mr. Trump criticized the Fed for not setting negative interest rates. set/set/set The book is yours!😀😀😀 esl ingles english kindle books
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