TELETRADER News
8/23, 4:45 PM (Source: TeleTrader)
more TeleTrader news

Trump: Fed did nothing, announcement to follow

United States President Donald Trump criticized the Federal Reserve once more on Friday over their perceived inaction and said that he would make an announcement on what he would do "shortly." He also asserted that he would work "brilliantly" with both a very strong dollar as well as a weak Fed and that the US would do "great." He concluded by asking whether Federal Reserve Chairman Jerome Powell or Chinese leader Xi Jinping was the bigger enemy.

"As usual, the Fed did NOTHING! It is incredible that they can "speak" without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work "brilliantly" with both, and the U.S. will do great. My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump tweeted.

Trump's remarks come after Powell said earlier in the day that policymakers would "act as appropriate to sustain expansion." Speaking in Jackson Hole, he also said that the US' economy was doing "well overall" and that price growth seemed "to be moving up closer" to its target.

Breaking the News / DZ