Trump Takes Swipe at Fed as Stocks Tumble

US President Donald Trump said yesterday's stock market selloff was in fact a long awaited "correction", and that the Federal Reserve, which has been raising US interest rates, has gone "crazy". "I think we don't have to go as fast".

"Actually, it's a correction that we've been waiting for, for a long time", Trump said about the market selloff.

At market close Wednesday, the Dow Jones average was still up more than 5,000 points since President Trump took office. "But I really disagree with what the Fed is doing, okay?"

Trump has slapped tariffs on $250 billion in Chinese goods this year, and Beijing has retaliated with levies of $110 billion of American products. The criticism is also unusual given that Jerome Powell, the Fed chairman, was appointed by Mr... By convention presidents rarely comment on central bank policy because the Fed is meant to be independent of politics.

Mitch McConnell is standing by Lisa Murkowski Kathryn Krawczyk
McConnell added that "this business of presidential harassment may or may not quite be the victor they think it is". The US Senate voted 50-48 on Saturday to confirm him, with just one Democrat supporting him.

Ice shards 15 metres high 'cover' Jupiter's moon
Any robotic spacecraft landing on the moon will have to navigate its way around lethal obstacles, a new study suggests. This process leaves behind distinctive, blade-like formations called penitentes .

Classic Zelda on Nintendo Switch Online gets easier with special save data
They also begin the game with all equipment, including the White Sword, the Magical Shield, the Blue Ring, and the Power Bracelet. It features Mario, Luigi, and other familiar characters.

After the central bank announced its third increase of the year in September - a quarter-point boost that raised the benchmark federal funds rate to a target range of 2 percent to 2.25 percent - Trump said he was "not happy" about it.

White House Press Secretary Sarah Sanders issued a statement on the drop as well.

Fed Chairman Jerome Powell is aiming to extend the second-longest US economic expansion on record by moving interest rates up just quickly enough to prevent overheating, but not so rapidly that the central bank chokes off growth. "It's probably healthy. This will pass and the USA economy remains strong".

Just two hours before, CNBC reported that an unnamed senior White House official told its correspondent that, "This is a bull market correction". "It is doing well", Trump said.

Related News:

  • Stocks Just Suffered Their Worst Loss in Months. Here's Why

    The benchmark US stock index hadn't suffered a five-day losing streak since November 2016, just before the presidential election. Higher rates can slow economic growth, erode corporate profits and make investors less willing to pay high prices for stocks.
    Space telescope Hubble has failed

    Space telescope Hubble has failed

    Assuming the team can rescue the malfunctioning gyroscope, Hubble will resume operations in its standard three-gyro configuration. Rachel Osten of the Hubble team confirmed that something is wrong with the telescope's gyroscopes, which it uses for orientation.
    Google announces its first tablet in three years, the Pixel Slate

    Google announces its first tablet in three years, the Pixel Slate

    The Pixel 3 and its big brother also have a dedicated security chip - the Titan M, which keeps the OS and your passwords secure. The Pixel 3 and Pixel 3 XL obviously both ship with the latest and greatest version of Android, which is Android 9.0 Pie.
  • Roger Federer warns Nick Kyrgios over work ethic after Shanghai Masters fiasco

    Roger Federer warns Nick Kyrgios over work ethic after Shanghai Masters fiasco

    It didn't end there as Kyrgios turned to Dumusois after hitting an ace and sarcastically asked: " Was that borderline poor? ". The talented but erratic Kyrgios has played in Shanghai four times with his best showing being two second-round finishes.
    Australia Will Keep Burning Coal To Produce Electricity Despite Stern IPCC Warning

    Australia Will Keep Burning Coal To Produce Electricity Despite Stern IPCC Warning

    Emissions will need to fall 45 per cent from 2010 levels - or 58 per cent from current levels - by 2030, the IPCC said . Australian Conservation Foundation chief executive Kelly O'Shanassy called on the government to change tactics.
    Dubai Test: Finch, Khawaja dominate Pakistan with half centuries

    Dubai Test: Finch, Khawaja dominate Pakistan with half centuries

    That was enough for Langer to confirm one-day specialist Finch and South Australia skipper Head would play their first tests . Hafeez registered a century as he and his opening partner Imam-ul Haq (76) shared a 201-run partnership for the first wicket.
  • Authorities: 'Real Housewives' husband Joe Giudice to be deported

    Authorities: 'Real Housewives' husband Joe Giudice to be deported

    The couple shares four children together - 17-year-old Gia, 14-year-old Gabriella, 13-year-old Milania and 9-year-old Audriana. Joe Giudice will be deported back to Italy once he's released from prison next year, according to a judge's ruling today.
    The IMF again downgrades outlook for the global economy

    The IMF again downgrades outlook for the global economy

    If pressures on emerging market economies were to broaden and intensify, financial stability risks would increase significantly, he said.
    Heat interested in restarting Butler trade talks

    Heat interested in restarting Butler trade talks

    As the GM watched on the sidelines during a scrimmage, sources said that Butler yelled to Layden: "You f--ing need me, Scott". Butler had previously been excused from training camp and preseason games as the team dealt with his trade request.
  • Florida comes under a hurricane watch as Michael rapidly strengthens

    Florida comes under a hurricane watch as Michael rapidly strengthens

    The bottom line is that tropical storm force winds are likely, meaning winds ranging from 40 miles per hour to as high as 70+. A tropical storm warning means that tropical storm conditions are expected somewhere within the warning area within 36 hours.
    50 people dead in bus crash in western Kenya

    50 people dead in bus crash in western Kenya

    Kericho County Police Commander James Mogera said the casualties could rise since more people were still trapped in the wreckage. Kenya has struggled to reduce the rising number of road accidents as more people in the growing middle class acquire vehicles.
    Google Pixel 3 to launch on November 2nd in France, retailer claims

    Google Pixel 3 to launch on November 2nd in France, retailer claims

    Gboard, the keyboard built into your Pixel 3, will recommend GIFs, stickers and more, to make your conversations fun and engaging. What's important is that the ppi - pixels per inch - remains high so that the display is capable of showing fine details.


Most liked

South Korea eyes lifting of some sanctions against North Korea
Trump said "eventually we're going to have lots of meetings on USA soil and on their soil by the way". They said the North Korean leader appeared simply to be repackaging and dragging out past pledges.

Lana Del Rey Confronts Azealia Banks
She criticizing Del Rey's appearance , saying she had bad plastic surgery and making other body-shaming comments. On Oct. 9, Del Rey clapped back at Banks with this tweet: "Pull up anytime". "I won't not f**k you the f**k up".

Sears hires advisers for bankruptcy filing
While much of his focus revolved around Sears's online presence, upkeep on physical stores has diminished. Where we were: Sears's struggles are nothing new, and have been an overhang for some real estate owners.

Climate report understates threat
The impacts of 1.5°C of warming and the possible development pathways by which the world could get there are its main focus. For instance, the Arctic is already experiencing warming that is many times higher than the global average.

Sydney at odds over horseracing adverts on opera house roof
NSW Premier Gladys Berejiklian has backed Alan Jones' position in favour of horse race advertising on the Sydney Opera House. Why not put it on the biggest billboard Sydney has", Morrison, a former head of Tourism Australia, told reporters.

Cleveland Browns: 3 players whose stock dropped against the Ravens
Mayfield gives the Browns a chance to attack the Ravens in the middle of the field. This kick in overtime was good, though.

Melania On #MeToo: We Should Support Men, ‘Not Just Women’
The interview came in the wake of the controversial hearings in which Justice Brett Kavanaugh defended himself from allegations of sexual assault in the early 1980s.

How to be a better friend to someone with mental health issues
According to the global agency, 10 to 20 per cent of children and adolescents worldwide suffer from mental disorders. For more information or professional help, visit their website .

Supercharged overnight, Hurricane Michael menaces Florida
This is a serious situation for the Florida Panhandle and downstream areas in southeastern Alabama, Georgia, and the Carolinas. A red flag, warning of unsafe conditions, is seen as Hurricane Michael approaches Panama City Beach, Florida, U.S.

Samantha Markle claims she wasn't turned away from Kensington Palace
Samantha, along with Meghan's father Thomas Markle , did not attend Meghan's nuptials in May. Samantha explained: "I was very respectful and I went there to deliver a letter".

Five killed in torrential rainstorms in Majorca
Other victims were found in Arta and the coastal town of S'illot, where the overflowed creek reaches the sea. Antonia Bauza, the deputy mayor of Sant Llorenc, confirmed two of the victims were British nationals.

Pet Sematary Trailer: What’s Dead Should Stay Dead
Check out the trailer below and get ready because very soon we'll have a full report from the set of the Stephen King adaptation. Jason Clarke and Amy Seimetz play Louis and Rachel Creed, the mom and dad of a young family that's new to this country road.

DUP 'could vote against the Budget' over Brexit deal
Earlier in the day, she told BBC Radio Ulster that it is "eminently possible" to reach a Brexit deal that "works for everyone" with weeks.

Virgil van Dijk on the games which will define Liverpool’s title bid
Van Dijk was relieved his mistimed tackle on Leroy Sane did not prove too expensive as Liverpool and City drew 0-0. I [asked] him: "'Big one?' and he said: "'I don't think so, but big enough that I go off'".

Google's Pixel 3 event in 6 minutes
Beyond the tablet experience, the Pixel Slate can be paired with the Pixel Slate Keyboard, which is a folio-style keyboard cover. Both Pixels run Google's Android 9.0 OS and offer dual front-facing cameras and wireless charging for the first time.