Trump says Fed ‘making a big mistake’ by being too aggressive
Trump says Fed ‘making a big mistake’ by being too aggressive
The Federal Reserve is not pleasing President Trump with its policy on interest rate increasesGETTY IMAGES
12 October, 2018, 13:25
O'Hare attributed the losses to worries about higher interest rates but also cited a "broad-scale deterioration in sentiment" as investors realized that the pullback on Wall Street failed to prompt bargain hunting to stabilize prices, as has been the norm in recent years. The index fell by more than 3%.
USA stocks are lower Thursday and heading toward their sixth consecutive decline. France's CAC 40 and the British FTSE 100 both dropped 1.9 percent and the DAX in Germany lost 1.5 percent.
This is in sync with Japan's Nikkei that declined by 3.41 per cent, Hong Kong's Hang Seng by 3.53 per cent, Singapore exchange by 2.64 per cent and the Korean Kospi plunged by 2.28 per cent today. The Kospi in South Korea fell 4.4 percent.
Bond yields, which have spiked over the last week, slid after the Labor Department said consumer prices grew only slightly in September. "The Fed has gone insane", Trump said.
The market's recent decline was set off by a sharp drop in bond prices and a corresponding increase in yields last week and early this week. Strong earnings reports in the upcoming weeks could soothe investor nerves, but any negative comments from company executives about future profits could have the opposite effect.
The comments followed his strongest criticism late Thursday when he said the Fed had "gone crazy" and blamed the interest rate increases for the stock selloff, which caused the Dow Jones Industrial Average to lose more than 800 points in its worst tumble since February. "They're so tight. I think the Fed has gone insane".
'We know the Fed is independent.
White House Press Secretary Sarah Sanders said in a statement following the close of markets that the US economy is "incredibly strong" despite the sell-off, which analysts attributed in part to trade tensions with China. "The fundamentals of the United States economy continue to be strong", he said.
He spoke after International Monetary Fund (IMF) chief Christine Lagarde defended central bank rate hikes in a veiled rebuke to Trump. Frenkel told CNBC that, with growth back on track and unemployment low, "that's the time to normalize".
Disney's Live-Action Aladdin Trailer Coming Tomorrow
As Aladdin and Jasmine fall in love, they must also face the evil Jafar , who plans to become Sultan by marrying Jasmine. Fans will be relieved to know animal sidekicks Abu, Iago and Rajah are expected to be in the movie.
"All bets are off", warned Stephen Innes, head of Asia-Pacific trading at OANDA, adding that markets were "fraught with peril".
'This is just who we are and I think who we will always be, which is, we're a group who - we're quite removed from the political process, ' Powell said in a recent interview.
Fed Chairman Jerome Powell is aiming to extend the second-longest US economic expansion on record by moving interest rates up just quickly enough to prevent overheating, but not so rapidly that the central bank chokes off growth.
"It is a correction that I think it is caused by the Federal Reserve, with interest rates", Trump told reporters at the White House.
US President Donald Trump speaks during a briefing on Hurricane Michael in the Oval Office of the White House in Washington, DC, October 10, 2018. I also suspect that if Fed Chairman Jerome H. Powell keeps doing the right thing by shrugging of Trump's tweets, long-term rates will be lower than they would otherwise be.
"No, I'm not going to fire him".
Last week's jump in yields followed strong USA data but many analysts have been anticipating a change in the dynamics in the bond market due to expectations that central banks in Europe and Japan will soon phase out bond-buying programmes.
Trump has repeatedly touted the spate of Wall Street records as proof of the success of his economic program, including his confrontational trade strategy, and criticized the Fed for raising the benchmark interest rate - three times this year - saying it would undermines his efforts.
India will take on West Indies in a 5-match ODI series, which is scheduled to be held from October 21 to November 1. India would also look to address the festering middle-order woes against the touring Caribbeans.
The Marine pilot safely ejected before the crash . "The aircraft mishap board is continuing its work and the U.S. The Israeli warplanes, purchased from the US , are a different model than the American one that crashed.
Experts say good hygiene and making sure little ones are washing their hands are one way to prevent spreading viruses and germs. It is actively investigating AFM cases, and trying to unearth more information about the mysterious condition.
Cyclonic storm " Titli " on Thursday wreaked havoc in the states of Odisha and Andhra Pradesh killing eight people. Affected districts are Ganjam, Gajapati, Khurda, Puri, Jagatsinghpur, Kendrapada, Bhadrak and Balasore districts.
It looks slick, and the substantial storage and AMOLED screen should soften the blow of paying £549 for a mid-range processor. Measuring 162.5x77x7.8mm, and weighing 183g, this isn't a phone for small hands, though it's still comfortable to hold.
Japan's Nikkei 225 added 0.2 percent, South Korea's Kospi dropped 1.1 percent and the Hang Seng in Hong Kong gained 0.1 percent. The benchmark index fell for the fifth straight day, which hadn't happened since just before the 2016 presidential election.
Trump, MAGA Hat, Racism, More
The rapper also spoke against stop-and-frisk policing policies, which Mr Trump recently expressed support for. Trump told " Fox and Friends " Thursday: "He's a different kind of guy and that's OK with me".
US, Russian astronauts survive Soyuz emergency landing
The first recorded instance of a launch escape maneuver came in 1975, when Soyuz 18-1 took off for the Salyut 4 space station. In 2015, CRS-7 launched a Dragon capsule on a Falcon 9 rocket to resupply the space station, but the second stage exploded.
Eagles Get Rocked At Home By The Vikings, 23-21
On the Eagles' first touchdown drive of the game, he threw for 50 yards and found Smallwood for a 12-yard touchdown reception. This was a game that both teams really wanted-and needed-to win, and Minnesota proved the tougher opponent in the end.
1.5 to stay alive: Reflecting on the IPCC Special Report
Keeping the 1.5C target would keep the global sea level rise 3.9 inches lower by 2100 than a 2C target, the report states. Additional Secretary of the Environment Ministry AK Mehta said India is already facing climate change impacts.
Kanye West has a bad iPhone passcode
Kanye West has launched into an expletive-filled rant in the Oval Office as he lavished praise on US President Donald Trump . Instead, the company has suggested in the past that users select passcodes with unique significance only they may know.
Facebook Launches AI-Powered Video Calling Devices
Credit Facebook for making its video chat devices less creepy than they could have been, but that doesn't make them creepy-free. In terms of privacy , Facebook claims the calls are encrypted and that Facebook does not listen in or save a copy of them.
Mental health in schools: we need to make it count
The children's commissioner welcomed Mrs May's announcement, but added: 'We need to see urgent action and implementation now. This time is said to be the best time to spread awareness about mental health disorders.
Climate change: Why 1.5 is the new magic number
Risks to food security and water, heat exposure, drought and coastal submergence all increase significantly even for a 1.5°C rise. This report shows the longer we leave it to act, the more hard , the more expensive and the more risky it will be.
Rasmussen Poll: GOP Pulls Even With Dems on Generic Ballot
Garland had been nominated to the Supreme Court by President Barack Obama, but Senate Republicans never acted on the nomination. Kavanaugh remains a federal judge and the complaints "allege misconduct that occurred while Kavanaugh was on the D.C.
This is what Hurricane Michael looks like from space
Hurricane Michael continued to intensify Tuesday morning as it marched northward toward a predicted Northwest Florida landfall. Meteorologists use central pressure readings to gauge a hurricane's strength - the lower the pressure, the stronger the storm.
Enbridge issues response to PG pipeline rupture
The company will update its customers as soon as it is in a position to offer something new, said Stout. A pipeline explosion has been confirmed to be the reason for a large fire outside of Prince George .