The shares fell when President Donald Trump tore the President of the Federal Reserve, Jerome Powell, to not cut prices
The stock market declined this week, as US President Donald Trump continued its attacks on Federal Reserve Chairman Jerome Powell.
Federal Open Market Committee (FOMC) Declare On Wednesday, she planned to maintain the target range of federal funds at 4.25-4.5 %, on the pretext that it was the most appropriate level to achieve maximum employment and oversupply inflation.
Trump criticize The decision on his Truth Social platform, Powell described it as an “American disgrace”.
“It is too late,” Jerome Powell costs our country hundreds of billions of dollars. It is truly one of the stupid, the most destructive people, people in the government, and the Federal Reserve complicit. Europe had 10 discounts, and we had nothing.
The S&P 500 has decreased by 0.031 % in the past day and 0.61 % in the past five days, while the Nasdaq is almost trading even during the past 24 hours, but it has decreased by 0.55 % in the past five days. The Dow Jones industrial average has decreased by 0.1 % last day and 1.29 % in the past five days.
Powell met with Trump last month after a barrage of insults from the president. Federal reserve, however, note in a statement After the meeting, which did not discuss the Powell interest rates with the president.
“By inviting the president, President Powell met the President today at the White House to discuss economic developments, including growth, employment and inflation.
President Powell did not discuss his expectations for monetary policy, with the exception of emphasizing that the path of policy will depend entirely on the economic information received and what this means for expectations.
Finally, President Powell said he and his colleagues Federal Open Market Committee (FOMC) will set monetary policy, as required by law, to support the maximum level of employment and stable prices, and these decisions will be taken based on only careful, objective and non -political analysis. “
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