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Trump Blames Fed for Slowing Economy

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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.”

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About Political Wire

Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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