ECONOMY/FEDERAL RESERVE/TRUMP AS PRESIDENT: “President Donald Trump sharpened his criticism of the Federal Reserve on Wednesday [10-10-18] after the stock market tanked, saying the central bank has ‘gone crazy,’ in what could be a preview of heightened attacks if the economy slows. Trump made the comment in response to a question about the more than 800-point plunge in the Dow Jones Industrial Average after the president arrived in Erie, Pa., for a campaign rally.It’s the second time in two days he has criticized the central bank, though his words on Tuesday [10-9-18] were more measured. While he took aim at the Fed’s monetary policy, he acknowledged then that they are ‘doing what they think is necessary.’ But Wednesday Trump asserted that the Fed — which has already hiked interest rates three times this year and is likely to do so again in December — has moved too fast. The central bank is working to raise rates to a more normal level after leaving them near zero for nearly a decade to boost the economy in the wake of the 2008 financial crisis.”
–Victoria Guida, “Trump: Fed has ‘gone crazy’,” Politico, October 10, 2018 7:24 pm