Trump's White House tried to calm markets. It backfired.

[DonViejo]

By Heather Long

December 24 at 2:53 PM

Many economists warned that President Trump’s focus on the stock market could have painful consequences. In recent days, it has become apparent why. Trump and his top deputies are focused on trying to stop the market slide, but they are helping drive the market down even further.

On Monday, the Standard & Poor’s 500-stock index closed in bear market territory, meaning the longest bull market for stocks in modern U.S. history is basically at its end. (A bear market is a 20 percent decline from the all-time high, which occurred in September.)

Trump blames Federal Reserve Board Chair Jerome H. Powell, his own choice for the post, for the steep stock sell-off. Many on Wall Street say Trump deserves some blame, too.

The president has complained about Powell for months, but in recent days he’s been asking around about whether he can fire Powell, which would be an unprecedented act in the United States and one that would spook markets and banks.

more
https://www.washingtonpost.com/business/2018/12/24/trumps-white-house-tried-calm-markets-it-backfired/

[no_hypocrisy]

1. He's King Midas in reverse . . . . .

[Initech]

2. Meanwhile Trump supporters and Fox News are like...

[Docreed2003]

3. And then the Dems show up for work on Jan 3rd like