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Trump says the Federal Reserve has ‘gone crazy’ by continuing to raise interest rates

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CNBC
October 11, 2018

President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence.

“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday. The S&P 500 posted its worst day since February and clinched its first five-day losing streak since 2016.

“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,” the President added.

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This article was posted: Thursday, October 11, 2018 at 4:56 am





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