Trump Criticizes Federal Reserve

As the stock market fell today, President Trump criticized the Federal Reserve. Trump tweeted that the U.S. is "winning, big time" but argued that the "problem is with the Fed." He said the Fed raised interest rates "too much and too fast" and has been too slow to lower rates. Trump also referred to Fed Chair Jerome Powell as "clueless." 

Meanwhile, the former Federal Reserve Chair thinks a recession is unlikely. Janet Yellen said today that historically the yield curve inversion is a good signal of a recession, but this time the markets may be wrong in trusting it. She added the U.S. economy has enough strength to avoid that.

The Dow Jones Industrial Average closed down 800 points to 25,479 today. The Nasdaq fell 242 points to 7,774. The financially heavy S&P 500 dropped 86 points to 2,840.

Photo: Getty Images

 
The Joe Pags Show

The Joe Pags Show

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