Donald Trump criticizes Fed on rate lifts once again

Donald Trump criticizes Fed on rate lifts once again

On Tuesday, American leader repeated that the key US financial institution was lifting interest rates too rapidly and added that American companies turned out to be the greatest around the globe and presented a mind-blowing buying opportunity for investors.

For recent weeks American equities have gone down abruptly on fears over weaker economic surge. American leader has mostly laid the blame for economic headwinds on the US major bank, heavily criticizing its governor, Jerome Powell, whom, in fact, he appointed.

According to media reports, US leader has gone as far as discussing sacking Jerome Powell, and in August he informed Reuters that he was absolutely dissatisfied with the Fed Chair.

On Monday, American leader told that the Federal Reserve appears to be the only problem of the American economy.

As a matter of fact, on the day all three key American stock indexes concluded down over 2% before the Christmas holiday. Besides this, the S&P 500 has inched down by nearly 19.8% from its September 20 closing maximum, just shy of the 20% threshold that commonly defines a descending market.

The previous week the Federal Reserve dared to have its interest rates lifted once again. This move of the US major bank had been generally anticipated.

On Monday, Treasury Secretary Steven hosted a call with Trump’s Working Group on Financial Markets. The given body is generally known as the "Plunge Protection team," and as a rule, it convenes during times of tremendous market volatility.

However, the call did more to affect financial markets than to soothe them. Watchdogs on the call told that they were not observing anything out of the ordinary in financial markets in the latest selloff. That’s what follows from to two sources already familiar with the matter.


Key Forex Event: US Inflation Rate
Key Forex Event: US Inflation Rate

The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.

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Will USD Stop Falling Today? Market Wrap
Will USD Stop Falling Today? Market Wrap

The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong. 

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