Broadcom led a plunge in chip stocks Friday after the chipmaker missed revenue expectations and lowered guidance.
President Donald Trump renewed his criticism of Federal Reserve Chairman Jerome Powell in a recent interview with ABC News' George Stephanopoulos.
The president predicted that GDP would be 1.5 percentage points higher had Powell and his fellow central bankers not enacted rate increases and "quantitative tightening." In addition, he said the stock market would be 10,000 points higher, presumably a reference to the Dow Jones Industrial Average, which was at 26,106 heading into Friday trading.
"If he did nothing, or perhaps even loosened, we would be in my opinion, just an opinion, 10,000 points higher than already a very high number," Trump said. Trump has repeatedly criticized Powell, whom he named to the post in early 2018, and has said openly that he believes the Fed should be cutting interest rates. Previous presidents have taken on Fed chairs before, but rarely in such a public fashion.
"He's my pick and I disagree with him entirely," Trump said. "As you know, it's independent. ... But I'm not happy with what he's done."
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sajid Javid Says Number 10 Refused To Let Him Attend The Trump State BanquetThe home secretary — who has previously criticised the US president — said the snub was 'odd' as it emerged his predecessor Amber Rudd was invited to past state banquets.
Weiterlesen »
EXCLUSIVE: Trump says of Fed Reserve chairman 'I've waited long enough'EXCLUSIVE: Pres. Trump defends repeated criticism of Federal Reserve Chair Jerome Powell: “I’ve waited long enough.” 'He's my pick—and I disagree with him entirely,' he tells GStephanopoulos.
Weiterlesen »
https://www.instyle.comInStyle is the leading site for celebrity style. See expert fashion advice, star hairstyles, beauty tips, how-to videos and real-time red carpet coverage.
Weiterlesen »
Millennials who earn $100,000 or more are flocking to these 10 statesPersonal-finance website SmartAsset conducted a study to find the total inflow and outflow of wealthy young people in all 50 U.S. states and Washington, D.C.
Weiterlesen »
10 things you need to know before the opening bellThis is what traders are talking about.
Weiterlesen »