Trump says Federal Reserve has "gone crazy"

  • Written by Axios
  • Published in Politics

President Trump told reporters on Wednesday evening that the 832-point dip in the stock market is a self-correction and said the Federal Reserve has "gone crazy" after it raised interesest rates.

"I think the fed is making a mistake. It’s too tight. I think the Fed has gone crazy. You can say that’s a lot of safety, actually, and it is a lot of safety and it gives you a lot of margin, but I think the fed has gone crazy."

Why it matters: Trump has criticized the Fed for raising interest rates before, but also touted the rise as a signal of a strong economy. The move to raise interest rates was not unexpected and rates are still low amid Wednesday's market crash.

WATCH— President Trump: “I think the Fed is making a mistake. They’re so tight. I think the Fed has gone crazy...”

— CNBC Now (@CNBCnow) October 10, 2018

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