The Fed’s unprecedented action against Wells Fargo was very poorly timed, considering the serious selloff we had on Friday. The Fed should have delayed that action until the financial markets stabilized. The Fed’s hawkish statement released last week talking about “further rate hikes” was completely unnecessary and just destabilized the markets. That’s two serious mistakes by the Fed in two weeks. They need to get their act together over at the Fed. It’s time for Trump to have a talk with Fed Chairman Powell and tell him to make sure the Fed doesn’t disrupt the markets again with stupid mistakes.
Any chance that is on purpose to destabilize TRUMP? Yellen didn't help matters with her "overvalued" last words today.