Global markets slide as Trump blames the Fed

President Trump spoke with reporters after arriving at Erie International Airport for a campaign rally at Erie Insurance Arena on Wednesday

Trump says Federal Reserve ‘has gone crazy’ after big stock drop

If the Fed is going to artificially boost inflation in the United States, then Mr. Trump needs to take executive action that would create access to money for working families and those who make this country actually function on a daily basis.

'It is a correction that I think it is caused by the Federal Reserve, with interest rates, ' Trump told reporters at the White House. "But I think it's far too stringent far too fast". The broad selloff 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 percent for its worst day in seven years.

Why? Because long rates, which have been rising gradually all year before bursting into public view last week, had been held at artificially low levels for years by the Federal Reserve's so-called quantitative easing. Earlier, he told Fox News the Fed was being "too aggressive" by raising interest rates this year and getting "a little bit too cute". Trump owes more than $300 million to Deutsche Bank AG of debt with interest rates that rise or fall depending on Fed policy.

Carney also praised Fed chairman Jerome Powell's technocratic expertise.

On Thursday, White House economic adviser Larry Kudlow sought to downplay Trump's comments about the Fed.

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A pine tree punched a hole in their roof and he said the roar of the storm sounded like a jet engine as the winds accelerated. Rescuers from the Federal Emergency Management Agency (FEMA) used dogs, drones and Global Positioning System in the search.

In the U.S. all the major stock markets closed down after similar drops on Wednesday.

The market has been rattled by rising interest rates, signs of a slowdown in the global economy and the US-China trade dispute.

He went on: "I put $250bn worth of taxes, or tariffs, on China and it's had a big impact. They're raising interest rates, and it's ridiculous".

Asked if he might dismiss the Fed chair, Trump replied: "No, I'm not going to fire him. The Fed policy of normalization is exactly the appropriate one", said chairman Jacob Frenkel.

Trump's latest attack on the US central bank appeared to blame the Federal Reserve for a stock rout that market analysts mostly attributed to fresh concern about his trade war with China.

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The couple has invited 1,200 members of the public to come onto the castle grounds for a closer glimpse of proceedings. The couple got engaged in January when Brooksbank, 32, proposed during a holiday trip to Nicaragua in Central America.

The Bank of England governor cited Powell's support for reform of Libor (London interbank offered rate), after a rate rigging scandal, as an example of the Fed chief's grasp of issues affecting world markets.

The Fed has less control over longer-term interest rates, which move mostly on expectations for future economic growth and inflation.

The Federal Reserve sets baseline interest rates for lending standards, which can have a massive effect on whether businesses expand or contract. Now it's stalling, he blames the Federal Reserve for "going loco".

The president has been publicly criticizing the central bank since July for interest-rate increases and declared he was "not happy" in September after the third rate hike of the year.

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On Tuesday, 10-year Treasury yields hit a seven-year intraday high of 3.26 per cent, up more than 15 basis points from October 1.

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They added that Hamas leader Ismail Haniya also attended the protests east of Gaza City and hailed the ongoing demonstrations. Israeli security personnel have been deployed in large numbers around the Palestinian village of Khan al-Ahmar, sources said.

Further interest-rate increases are "not unreasonable" given the strength of the expansion, said James Knightley, chief worldwide economist at ING Groep NV in London. "The fundamentals and future of the US economy remain incredibly strong", she said, pointing to a 50-year low in unemployment, tax cuts, reduced regulatory burdens, bigger paychecks, and new trade deals that have specifically benefitted farmers, ranchers, and manufacturers.

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