This is another signal that he is watching the markets.
Donald Trump with a new tweet:
The Great Charles Payne @cvpayne correctly stated that Fed Chair Jay Powell made TWO enormous mistakes. 1. When he said "mid cycle adjustment." 2. We're data dependent. "He did not do the right thing." I agree (to put it mildly!).
I will not interpret the individual words.
In my opinion, the main conclusion from Trump's constant attacks on the Fed is that they have nothing to do with the central bank. Instead, they show a president who watches teak markets and can't tolerate a 3% drop.
Trump defines himself as president by 1) his approval rating 2) the Dow Jones Industrial Average
He blames the Fed for the direction the bank has taken, but I'm almost sure he doesn't believe he can win the next election if the S&P 500 is lower on election night than it is now.
Markets do not always cooperate, but it will not allow them to fall without dramatic action. I can't be sure if it means replacing Powell, dollar intervention, trying out some kind of stimulus, ending the war with China or something. But I have no doubt that this is a president who is desperate for markets to go up.
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