Two financial experts on Fox News couldn’t figure out why President Donald Trump was lashing out at the Federal Reserve chairman on Friday.
Trump has continually berated Federal Reserve chairman Jerome Powell, who the president nominated in 2017. Trump believes that Powell should not have raised interest rates and has not moved quickly enough to cut them.
On Friday, Trump questioned whether Powell was a “bigger enemy” to the United States than Chinese President Xi Jinping. Trump’s attacks came shortly after Powell delivered a speech in Jackson Hole, Wyoming.
“Can I start with this idea? When Chairman Powell was talking, we were getting [his] remarks, the market was actually going up. It sounded to me… that [Powell] was being accommodating. You know?” remarked Fox News host Melissa Francis, who is also a host for the Fox Business Network
“I think, as you rightly point out, yes, I think that’s how most investors took those comments,” replied Fox Business host Deirdre Bolton. “The Fed chair was not going to announce a rate cut right there from Jackson Hole, Wyoming, but he was doing his best to telegraph in his own way that cuts would be coming.”
“We know from what investors expect, almost 100% of the market participants expect a 25-basis point cut in September,” Bolton continued. “I feel like President Trump just grabbed the mic, essentially, virtually, from the Fed chairman. And you read that tweet, of course, that was very highly critical of the Fed… I feel like President Trump just took over that narrative and then pushed as far as possible, really, against China and we see of course the market reaction.”
Francis later added that Trump had attacked Powell “when it seems like Powell was already on his side.”
Watch video below:
Beto O’Rourke looks to reactivate suburban strength in Texas to help Democrats win
The photo line for Beto O’Rourke here Saturday afternoon quickly turned into something of a reunion.
“Hey, I know who you are!" a characteristically sweat-drenched O'Rourke told one supporter. After talking to another, O'Rourke yelled out to an aide: "Hey, someone who worked on the campaign wants to be plugged in again!"
The vibe was similar a day later in Plano, where O'Rourke rallied in front of signs reading, "Welcome to Beto Country," serving up nostalgia from his near-miss loss to U.S. Sen. Ted Cruz last year. He said the Senate race was the "only reason" he got to run for president, touting the support he built in Collin, Denton, Tarrant and Dallas counties before getting drowned out by cheers.
Corey Lewandowski may use Judiciary Committee hearing to launch New Hampshire Senate run
Former campaign manager Corey Lewandowski will appear before the House Judiciary Committee Tuesday to answer questions about incidents outlined in special counsel Robert Mueller's report. But he may use the appearance as a way to launch his New Hampshire Senate run.
Axios reported Sunday that the former top aide to President Donald Trump is eager for a fiery exchange between him and Rep. Jerry Nadler (D-NY) and other Democrats.
“Corey will use [the hearing] as part of the campaign. He will be confrontational to the Democrats. He will be totally loyal to Trump. And he will be playing to the right-wing of the party who need to unite behind him in a primary," said former New Hampshire Attorney General Thomas Rath.
General Motors auto workers call strike in US
The United Auto Workers union called a nationwide strike against General Motors Sunday, with some 46,000 members set to walk off the job beginning at midnight amid an impasse in contract talks.
The decision, which the Wall Street Journal described as the first major stoppage at GM in more than a decade, came a day after the manufacturer's four-year contract with workers expired without an agreement on a replacement.
Local union leaders met in Detroit "and opted to strike at midnight on Sunday," the UAW said on its Twitter account.
"This is our last resort," Terry Dittes, the union's lead negotiator with GM, told a news conference after the meeting. "We are standing up for the fundamental rights of working people in this country."