Trump: Fed out of control, won't fire Powell

Politics 10/11/2018, 5:45 PM
Trump: Fed out of control, won't fire Powell

The correction in the markets yesterday was caused by the Federal Reserve, United States President Donald Trump said on Thursday, adding that the central bank is "out of control."

Trump also said during his remarks at the White House that he does not plan to fire the Chairman of the Federal Reserve Jerome Powell, but feels "disappointed." The president added that the Fed chair is "making a mistake" when it comes to monetary policy.

The Dow Jones Industrial Average closed more than 800 points lower on Wednesday, marking the steepest decline since February. Earlier today, the president went on to say that the Fed is "getting a little bit too cute" and making a big mistake by further raising interest rates.

Breaking the News / BM