|
"I wouldn't associate Jay Powell with craziness," Managing
Director Christine Lagarde told CNBC in an interview. "He comes
across - and members of his board - as extremely serious, solid
and certainly keen to base their decisions on actual
information."
Trump made the comment in response to Wall Street's sell-off
after the S&P 500 and the Dow marked their worst losses in eight
months. The slump triggered a surge of global selling that sent
European stocks to a more than an 18-month low on Thursday and
knocked down Asian shares.
Worries about higher borrowing costs have sparked the U.S. stock
sales in recent days, while a spike in U.S. Treasury yields and
solid U.S. economic data have raised concerns that the Fed may
pick up the pace of its interest rate hikes.
"Actually it's a correction that we've been waiting for a long
time, but I really disagree with what the Fed is doing,” Trump
told reporters on Wednesday.
"I think ... the Fed is making a mistake. They’re so tight. I
think the Fed has gone crazy," added Trump, who tapped Powell to
lead the bank but has publicly criticized the Fed under his
tenure.
(Reporting by Kanishka Singh in Bengaluru; additional reporting
by Susan Heavey in Washington; Editing by Anil D'Silva and
Matthew Mpoke Bigg)
[© 2018 Thomson Reuters. All rights
reserved.] Copyright 2018 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
 |
|
