Commodities

Trump targets Federal Reserve and Jay Powell after manufacturing reading


U.S. President Donald Trump speaks during a ceremonial swearing-in for Labor Secretary Eugene Scalia at the White House in Washington, U.S., September 30, 2019. REUTERSLeah Millis | ReutersPresident Donald Trump again attacked the Federal Reserve on Tuesday after the weakest U.S. manufacturing reading in 10 years.In a tweet, the president wrote Fed Chair Jerome Powell and the central bank “have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected.” He argued the Fed has set interest rates “too high.” “They are their own worst enemies, they don’t have a clue,” he wrote. “Pathetic!” This story is developing. Please check back for updates. Subscribe to CNBC on YouTube.

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