8/15, 4:30 PM (Source: TeleTrader)
more TeleTrader news

Trump, Navarro only WH officials blaming Fed's Powell - sources

United States President Donald Trump and his trade adviser Peter Navarro are the only White House officials who believe the Federal Reserve and its Chair Jerome Powell are to blame for the current volatility in the markets and the economic slowdown, CNBC reported on Thursday citing two senior administration officials.

"Everyone else sees the source of the volatility as trade uncertainty but understands the President won’t back down," the officials said as quoted by CNBC's Kayla Tausche.

Earlier this week, Navarro claimed the brief yield curve inversion was a signal to the Fed that it needs to further cut rates in an effort to avoid recession, while Trump blasted the central bank for having raised interest rates "far too quickly" and now being "very late" with lowering them.

Breaking the News / NP