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Trump's unusual Fed bashing raises the stakes of a policy blunder that damages the economy

Trump's unusual Fed bashing raises the stakes of a policy blunder that damages the economy
Jacquelyn Martin/AP



President Donald Trump is blaming the Federal Reserve for the stock market's sell-off.




While it's unusual for the US president to publicly bash the Fed, many investors agree that fears of higher interest rates are partly responsible for the volatility.




By pitting himself against the Fed, Trump is raising the stakes of a monetary-policy error.



President Donald Trump is not known to mince words. And this week, he offered his sharpest rebuke yet of the Federal Reserve.
"I think the Fed has gone crazy," Trump said Wednesday about the Federal Reserve's interest-rate increases. On Thursday, he told Fox News the central bank "is going loco." He also said he was not going to fire Fed Chairman Jerome Powell.
Trump said all of this after the longest streak of stock-market declines since the days before the November 2016 election. He was expressing his angst at the declines and assigning blame to the Fed, having posted dozens of congratulatory tweets about the stock market's record highs.
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