President Donald Trump Just Admonished the Fed for "Doing the Wrong Thing" on Interest Rates, but Ignores the 2 Biggest Inflation Catalysts
Trump’s Federal Open Market Committee (FOMC) scoldings continue to fall on deaf ears.
Overview
It's the dawn of a new era on Wall Street. For only the fourth time this century, the Federal Reserve has kicked off a rate-hiking cycle.
On Sept. 16, Fed Chair Kevin Warsh and the Federal Open Market Committee (FOMC) announced a 25-basis-point rate hike to the federal funds target rate, pushing the new range to 3.75%-4.00%. Wall Street's major stock indexes, the Dow Jones Industrial Average (DJINDICES:^DJI), S&P 500 (SNPINDEX:^GSPC), and Nasdaq Composite (NASDAQINDEX:^IXIC), sank following the announcement. But it was President Donald Trump who was, arguably, the most disappointed.
President Trump has been vocal about his displeasure with the FOMC. Image source: Official White House Photo by Daniel Torok.
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Originally published at www.fool.com.