Posted on 10/11/2018 7:49:48 AM PDT by SeekAndFind
Donald Trump hit out at the Federal Reserve on Wednesday, accusing them of “going loco” over interest rate hikes this year, hours after the worst US stock market sell-off since February.
Mr Trump said in an interview on Fox News that the market plunge was not because of his trade conflict with China, instead blaming the US central bank. “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous. The Fed is going loco.”
He added: “They’re so tight. I think the Fed has gone crazy.”
Mr Trump appeared to blame the Fed for a stock rout that market analysts mostly attributed to fresh concern about his trade war with China.
The broad US stock market sell-off on Wednesday took the S&P 500 to the lowest in three months, the Dow Jones Industrial Average plunged as much as 836 points and the Nasdaq 100 Index tumbled more than 4 per cent for its worst day in seven years.
The sell-off came a day after the IMF said the world economy was plateauing and cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets.
Mr Trump has slapped tariffs on $250bn (£190bn) in Chinese goods this year, and Beijing has retaliated with levies of $110bn of American products. The IMF projections don’t take into account the president’s threat to expand the tariffs to effectively all of the more than $500bn in goods the US bought from China last year.
Mr Trump has been publicly criticising the Fed - led by Chairman Jerome Powell, whom he appointed - since July for interest-rate increases and declared he was “not happy”
(Excerpt) Read more at yahoo.com ...
He appoints a lot of bad people. Sad to say, but true.
Buying Opportunities ahead. Let it fall.
Probably not on that count—though a little early for such a conclusion. Gorsuch definitely looking good.
The best time to buy stocks — Now
The best time to sell stocks — Never.
I sold my AMD yesterday and will wait. In the next 2 weeks their earnings report comes out Oct 24. Should be good news.
I think it will be a good stock but am hoping it falls some more so I can buy more later : )
I use to own Nvidia and sold at $274. It went to about $294 recently and today is $235 just 10 days later !!!
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