President Donald Trump Took a Direct Jab at the Fed, Yet Again -- and It's a Disaster in the Making for Wall Street
Yahoo Finance ·
From a purely statistical standpoint, the annualized returns of the Dow Jones Industrial Average ( ^DJI +0.29% ) , S&P 500 ( ^GSPC +0.72% ) , and Nasdaq Composite ( ^IXIC +1.12% ) under President Donald Trump have been higher than most other presidents since the late 1890s. However, these gains haven't been earned without bouts of historic volatility and periods of heightened uncertainty. Despite recent all-time highs for the Dow, S&P 500, and Nasdaq Composite, U.S. inflation is fostering worry among investors on Wall Street . But rather than let America's foremost financial institution, the Federal Reserve, do what it does best, Donald Trump continues to take direct jabs at the Federal Open Market Committee (FOMC) . President Trump delivering remarks. Image source: Official White House Photo by Daniel Torok. Shortly after taking office for his second, nonconsecutive term, the president began harping on now-former Fed Chair Jerome Powell and the other 11 members of the FOMC responsible for setting the nation's monetary policy for not aggressively slashing interest rates. Despite the FOMC cutting the federal funds target rate six times to its current range of 3.50%-3.75%, Trump has been adamant that policymakers reduce interest rates to 1% or lower.
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