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Wall Street stocks and the dollar tumbled amid mounting uncertainty over the US economy as President Donald Trump renewed his attacks on Federal Reserve chair Jay Powell.
US President Donald Trump’s tariff policies and statements regarding restructuring the Federal Reserve have contributed to a sharp fall in the US Dollar Index to 97.9, its lowest level since March 2022, following a downward trend that began in February.
The euro/US dollar parity rose to its highest level since November 2021,
» Read more about: Trump tariffs bleed US dollar dry, boosting euro »
The tariff war between the U.S. and China intensified this week as both sides dug in amid rising fears of a global recession. The Trump administration’s levies on Chinese imports hit a staggering 145 percent, and China countered with levies of 125 percent on U.S. goods. After saying repeatedly there would be no carve-outs,
» Read more about: Trade war with China threatens U.S. economy »
President Donald Trump hasn’t been shy voicing his frustrations with Federal Reserve Chair Jerome Powell.
While Trump nominated Powell for the position in 2017, the president has recently accused the Fed leader of “playing politics,” being “always TOO LATE AND WRONG,” and playing into Europe’s hands by not lowering interest rates.
» Read more about: Who is Jerome Powell? The Federal Reserve Chair Trump wants to fire »
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» Read more about: Markets tumble as Trump puts pressure on Federal Reserve »
We break down complex business news to help you understand how money moves in Chicago and how it affects you.
Wall Street weakened Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve,
WASHINGTON — President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy.
Trump called Powell “a major loser” and said that energy and grocery prices are “substantially lower” and “there is virtually No Inflation.” Yet Trump said the economy could slow without rate cuts.
President Trump remains on the attack against Jerome Powell, deriding the Federal Reserve chief in a social media post on Monday as a “major loser” and pressing him to lower interest rates “NOW.”
The latest blast comes just days after Mr. Trump said on April 17 that Powell’s “
» Read more about: Can Trump fire Federal Reserve Chair Jerome Powell? Here's what to know. »
Wall Street weakened Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order.
The S&P 500 sank 2.4% in another wipeout. That yanked the index that’s at the center of many 401(k) accounts 16% below its record set two months ago.
Tesla (NASDAQ: TSLA) stock fell again on Monday after news broke of a major delay in its production plans.
» Read more about: Tesla Is Sinking Again Today: Is It Time to Buy the Stock? »
