Trump Slams Fed Chair for Market Declines

“President Trump placed responsibility for recent stock market declines and this week’s General Motors plant closures and layoffs on the Federal Reserve during an interview Tuesday, shirking any personal blame for cracks in the economy and declaring that he is ‘not even a little bit happy’ with his hand-selected central bank chairman,” the Washington Post reports.

“Trump complained at length about Federal Reserve Chairman Jay Powell, whom he nominated earlier this year. When asked about declines on Wall Street and GM’s announcement that it was laying off 15 percent of its workforce, Trump responded by criticizing higher interest rates and other Fed policies, though he insisted that he is not worried about a recession.”

Said Trump: “I’m doing deals, and I’m not being accommodated by the Fed. They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me.”