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The Markets Might Agree With Trump on the Fed
President Donald Trump came out late Tuesday and said the Federal Reserve’s once-per-quarter pace of interest-rate increases was too fast. “I like low interest rates,” Trump said. He doubled down late Wednesday, saying the Fed “has gone crazy.” Putting aside all the reasons why it’s a bad idea for a sitting president to comment on monetary policy, perhaps he’s right. At least that’s how financial markets seem to be behaving, with the S&P 500 Index tumbling to its lowest since July and benchmark 10-year Treasury note yields reaching their highest since 2011. Equities and bonds have been under ... (full story)