Trump Blames Fed for Slowing Economy

President Trump blamed the Federal Reserve for mounting fears about a slowing U.S. economy as he defended his administration’s trade war with China, CNBC reports.

In a pair of tweets, the president argued the central bank and its “clueless” Chair Jay Powell have dragged on the U.S. economy. He also blamed the Fed for the yield on the 2-year U.S. Treasury moving higher than the yield on the benchmark 10-year Treasury — an indicator of a possible recession that contributed to major U.S. stock indexes dropping about 3% on Wednesday.

Tweeted Trump: “CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win!”

Trump also claimed “we are winning, big time” in his administration’s trade conflict with China but that “our problem is with the Fed.”