WSJ on Trump's 'Fed has gone crazy' remark

Author: Eamonn Sheridan | Category: Central Banks

The Wall Street Journal following up on President Trump's comments earlier:

"The Fed is making a mistake," Mr. Trump told reporters in Erie, Pa., after stock markets suffered their biggest decline in more than seven months. 
  • "I think the Fed has gone crazy."
  • Mr. Trump has for weeks grumbled about the central bank's campaign to gradually lift short-term rates,
  • Wednesday's comments were the first time he said the Fed had been responsible for inflicting market losses. Of the stock market, he said, "Actually, it's a correction that we've been waiting for, for a long time. But I really disagree with what the Fed is doing, OK?"
If the stock market in the US falls again tomorrow I expect we will hear more along the same lines. This is not the first time (nor last) a politician blames the Fed for a stock market fall. 

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