Stock Market Drop Sparks Recession Fears
President Trump is blaming the Federal Reserve after the stock market took a nosedive.
Recession fears sparked a massive sell-off on Wall Street.
The Dow Jones Industrial average dropped more than 800 points Wednesday and investors panicked.
But the president is laying the blame on the Federal Reserve’s interest rate policies rather than his trade war with China.
The Trump administration has been outspoken in recent weeks about the way his handpicked Federal Reserve Chairman Jerome Powell has handled things.
This comes just days after the president dialed back on the U.S. China trade war, delaying tariffs set to go in place at the start of September.
Many Democrats say it is proof that the president’s economic policies are doing more harm than good.
Some economic experts say it could potentially be an economic slowdown versus a full-blown recession.