(Craig Torres & Christopher Condon – Bloomberg)
U.S. President Donald Trump slammed the Federal Reserve on the eve of a pivotal policy meeting for “even considering” another interest-rate increase, and suggested the central bank has no reason to move because inflation is low and the U.S. currency is strong.
“It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike,” Trump said in a tweet on Monday. “Take the Victory!”
The Federal Open Market Committee begins a two-meeting in Washington on Tuesday, and trading in federal funds futures indicate a greater than 70 per cent chance of the panel’s fourth rate hike this year. Click here to read more.
- The Strange Case of Donald Trump vs. Jerome Powell (Politico)
- The White House is Double-Dog Daring Jay Powell to Raise Interest Rates (Dealbreaker)
- Dow Industrials Fall Nearly 600 Points as Investors Await Fed Cues (WSJ)
- After the Fed’s Likely Rate Hike This Week, All Bets Are Off (Associated Press)
- Banks Are Getting Cold Feet Over Lending Amid Recession Fears (Fortune)
- Here’s Why the Fed Won’t Save the Stock Market, Despite Its Worst December Start Since 1980 (MarketWatch)