Dow falls 620 points as U.S.-China trade war escalates
Meanwhile Friday, Trump savaged Powell as an “enemy” who could be worse for the United States than Chinese President Xi Jinping.
“As usual, the Fed did NOTHING! It is incredible that they can ‘speak’ without knowing or asking what I am doing, which will be announced shortly,” Trump tweeted. “We have a very strong dollar and a very weak Fed. I will work ‘brilliantly’ with both, and the U.S. will do great.”
Trump added: “My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” referring to the Chinese leader. Trump misspelled Powell’s name in an initial tweet, which he then deleted.