Trump says Federal Reserve ‘has gone crazy’ after big stock drop
11 October, 2018, 17:58 | Author: Billie Castillo
Japanese stocks plunged by more than three percent Thursday following the worst session on Wall Street for months, as US President Donald Trump said the Federal Reserve had "gone crazy" with plans for higher interest rates.
Ahead of a campaign rally for the U.S. mid-term elections next month, Trump told reporters: "I think the Fed is making a mistake".
"I don't like it", Trump said Tuesday at the White House, referring to the Fed's rate hikes, the most recent of which was September 26.
Mr. Trump said earlier this week that he thought the central bank was moving too quickly with a series of planned interest rate hikes.
Trump has said he likes low interest rates, in part because of his background in real estate. They have reached out to the Fed leader to ensure there hasn't been improper political interference.
The 10-year yield is now 3.20 percent, the highest in than seven years and up sharply form 2.82 percent in late August.
Kevin Hassett, the head of Trump's Council of Economic Advisers, said the president is expressing his views on monetary policy, but he isn't trying to "politicize" the Fed. "We can do other things with the money", the president said at a September press conference in NY.
He added later, "The problem, in my opinion, is Treasury's and the Fed".
O'Hare attributed the losses to worries about higher interest rates but also cited a "broad-scale deterioration in sentiment" as investors realized that the pullback on Wall Street failed to prompt bargain hunting to stabilize prices, as has been the norm in recent years.
"It seems like the Fed is continuing on the course that markets expect, to raise interest rates given the tight labour market", said Phillip Swagel, who was a top Treasury official during the George W. Bush administration.
The steep drop in Japan followed a decline on Wall Street of almost 830 points, the biggest fall since February, amid Trump's latest criticism of the Federal Reserve, the United States central bank.
And while stocks could get a boost from strong corporate earnings, there are concerns the USA trade conflicts will start to undermine profits. "I just don't think it's necessary to go as fast".
"He is an individual that really understands the plumbing of the US and global financial systems and one example is the reforms that are going underway on Libor for which he is one of the main sponsors", said Carney. And tech stocks got hit particularly hard.
But in an interview with CNN in Bali, Mnuchin appeared to contradict Trump's suggestion that the Fed was partly to blame.
In a sign of how much animosity Trump now holds toward the central bank, Moore said he believes Trump regrets appointing Powell to the position.
Robin Wright, a scholar at the Wilson Center think tank and close friend of the missing writer, said that's unlikely to change. Senator Rand Paul said he would push for a vote in the Senate this week blocking United States arms sales to Saudi Arabia .
This could be bad news for Peterson, who has looked nearly like his old self since signing with the Redskins . According to ESPN's John Keim , Peterson dislocated his shoulder on a play late in the first half.
Going forward, we're definitely going to see more Android phone makers offering different takes on gesture-based interfaces. Also introduced was the new Google Home Hub , an Amazon Echo Show-like device that is a digital assistant with a screen.
Kavanaugh can be expected to cast crucial votes on those issues as well as gun control, immigration, voting rights and others. Likewise, strong supporters of President Donald Trump were the most likely to express concern over false allegations.
Jamal Khashoggi was once considered an insider to the Saudi establishment with links to the security and intelligence apparatus. She said the writer first visited the consulate on September 28 "despite being somewhat concerned that he could be in danger".
This GIF from the National Weather Service shows Hurricane Michael moving toward the Florida Panhandle on Monday . On the forecast track, the center of Michael will move across the eastern Gulf of Mexico through tonight.
There'll be a short wait after that, with the feature set to officially roll out for all users sometime in early 2019. You also have the option of displaying your earlier name alongside it, so your friends will know who you are.
A previous version of this story corrected the spelling of the town to Sant Llorenc, not Sant Lorrenc. At least nine people are believed to have died in torrential rainstorms on the island of Majorca .
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Porcello needed only 25 pitches to get through New York's lineup the first time and entered the fifth inning with only 40 pitches. It was the second shortest home run in Yankee Stadium the season at 338 feet, according to The Athletic .
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ET on October 9, Michael's center was about 420 miles south of Panama City, Florida and 390 miles south of Apalachicola, Florida. A red flag, warning of risky conditions, is seen on a pier in advance of Hurricane Michael in Pensacola, Florida, U.S.
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