- Trump weighs in on the Federal Reserve’s, (Fed), interest rate decision and is not happy about it.
- Fed’s Powell said he intends to fulfil his four-year term in his presser.
Following today’s Federal Reserve meeting, President Donald Trump has argued that the nation needs a more aggressive policy fro the Federal reserve with respect to its recent shift to its monetary accommodation policy, calling for lower rates – which is of no surprise and will have little implication for the economy. Powell expressed his intentions to fulfil his legal for-yea long mandate as Charman of the Federal Reserve and he was quite clear with where the Fed stands on rates.
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Powell speech: Not likely Fed will return to rate hikes during this business cycle
Trump’s tweets:
Market reactions to the Fed today:
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EUR/USD extends slide below 1.1100 as US Dollar soars during Powell’s press conference
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Wall Street reverses course on Powell remarks, S&P 500 erases more than 1.5%
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Gold prices dump over 1% on the Fed’s ‘mid-cycle adjustment’ and 25 basis point rate cut
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