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US stocks open higher and Trump attacks the Fed again

2019-08-21 02:01 pm | Resource: News | No Views : 26

US stocks open higher and Trump attacks the Fed again

Wall Street opened in the Green Zone on Wednesday as US President Donald Trump again criticized the Federal Reserve for not cutting enough interest rates and claimed that its president, Jerome Powell, was the "only problem" for the nation's economy. Investors are also waiting for US housing data for July after the opening bell.

Trump: Fed and Paul are pressing the US

US President Donald Trump went to Twitter on Wednesday to once again criticize the Federal Reserve and its President Jerome Powell for not cutting interest rates enough. Trump insisted that the United States was making good progress in trade negotiations with China and claimed that Powell was "the only problem" for the country's economy.

Trump tweeted “Great performance with China and other business deals. The only problem we face is Jay Powell and the Fed.

Trump also wrote: "Don't count on him! You've called him wrong so far, just let us down." "We are competing with many countries that have a much lower interest rate, and we must be less of them. Yesterday," the highest dollar record in US history. "

The US president has urged the central bank to cut interest rates for several months, saying such action is necessary because of low inflation. After the Fed cut interest rates in July, it continued to call for further cuts.
  • The Dow Jones industrial average rose 0.85% or 225 points as Apple jumped. By 1.26%.
  • The Nasdaq 100 rose 0.94% on the back of the $ 2.15 gains seen.
  • The S&P 500 rose 0.85%.

The Euro was steady against the Dollar, trading at 1.1099 at 15:29 CET while the British Pound fell 0.24% against the Dollar to go at 1.2141 at the same time.


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