The president is unhappy with the Fed’s decision to maintain the status quo.
“Our economy is in a favorable place,” Powell said during the Fed’s annual Jackson Hole meeting, adding, “Our challenge now is to do what monetary policy can do to sustain the expansion.”
But he added there are “significant risks” in maintaining that favorability, mainly referring to the trade war. The Dow, S&P 500 and Nasdaq initially reacted to Powell’s speech by turning positive, after dropping during pre-trading as China announced it was slapping the US with anBefore Powell’s speech, Trump tweeted, “Now the Fed can show their stuff!” Afterward, Trump tweeted, “As usual, the Fed did NOTHING!”] or Chairman Xi?” Trump wrote twice on Twitter. He promised “shortly” to announce “what I am doing,” most likely referring to economic policy, but it’s unclear.
Singapore Latest News, Singapore Headlines
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