The stock market tumbled this week as US President Donald Trump continued his attacks on Federal Reserve Chair Jerome Powell.
The Federal Open Market Committee (FOMC) announced on Wednesday that it planned to maintain the target range for the federal funds rate at 4.25-4.5%, arguing that it was the most suitable level to achieve both maximum employment and controlled inflation.
Trump slammed the decision on his social media platform Truth Social, calling Powell “an American disgrace.”
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“‘Too Late’ Jerome Powell is costing our Country Hundreds of Billions of Dollars. He is truly one of the dumbest, and most destructive, people in Government, and the Fed Board is complicit. Europe has had 10 cuts, we have had none. We should be 2.5 Points lower, and save
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