August 3, 2021

Trump says that "the Fed has gone crazy" after the fall on Wall Street

Trump says that "the Fed has gone crazy" after the fall on Wall Street


EFE

Updated:

US President Donald Trump said on Wednesday that the US Federal Reserve (Fed) "has gone crazy" after the remarkable fall recorded on Wall Street, which the White House tried to play down.

Asked if he is worried about the session in the New York parquet, Trump has considered that it is a «Correction that was expected a long time ago», and has continued its criticism of the Federal Reserve.

"The Fed is making a mistake. They are too tight (interest rates). I think the Fed has gone crazy"He told reporters in Erie (Pennsylvania), where he plans to hold a rally.

He Dow Jones This Wednesday, more than 830 points were left along the way, which translates into a decrease of 3.15 per cI feel, and the S & P 500 has yielded 3.29 percent, both percentages not seen since the beginning of last February.

The hardest blow was taken, however, by the Nasdaq, where a good number of important technology companies are listed, It has fallen by 4.08%, a fall recorded for the last time in November 2016.

Subtract weight to the fall busátil

The day is a continuation of the negative trend that started in the market last week As a consequence of the fear that investors raised, the profitability of public debt increased, combined with the possibility of a new rise in interest rates by the Fed.

Trump already criticized hard two weeks ago the third rise of interest rates so far this year, which placed them between 2% and 2.25%, which put the price of money at its highest level since 2008.

White House spokeswoman Sarah Huckabee Sanders has tried this Wednesday subtract weight from the stock market crash and stressed that "the basis and future of the US economy. they are still incredibly strong ", highlighting low unemployment and recent corporate tax cuts.

"The economic policies of President Trump They are the reasons for these historic successes, and have created a solid foundation for growth to continue, "Sanders said in a statement.

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