"Actually, it's a correction that we've been waiting for, for a long time", Trump said regarding the stock market.
The White House said Wednesday that the "fundamentals and future" of the US economy are "incredibly strong" despite the big losses in the stock market.
The newspaper said the White House is laying the groundwork for the meeting, saying Treasury Secretary Stephen Mnuchin and National Economic Council Director Larry Kudlow want to de-escalate the trade fight.
US President Donald Trump warned today there was much more he could do that would hurt China's economy further. "I just don't think it's necessary to go as fast".
One reason why the Fed has been raising interest rates even with little sign of an inflation breakout is because the unemployment rate, which fell to 3.7 percent in September, is at a level that many officials expect will cause wage and price gains to accelerate over time. "It is doing well", Trump said.More news: What we learned in Lakers win over Warriors
The biggest driver for the market over the last week has been interest rates, which began spurting higher following several encouraging reports on the economy. It is often tied to higher costs of borrowing for the federal government, which can spook investors. Higher rates are a concern for investors due to their potential to eat into corporate earnings.
Trump said the downslide of the stock was in fact a course correction.
"It's inevitable that central banks make the decisions that they make".
"We're quite removed from the political process", Powell said in an interview last week at the Atlantic Festival in Washington.
"And we just try to do the right thing for the medium and longer term for the country". Economists generally agree that in order to prevent runaway inflation, the Federal Reserve can raise interest rates to restrain the money supply.More news: Woman visits fiancé's grave on wedding day in her bridal gown
Trump on Thursday also indicated that the Fed's policies were harming him personally. "That doesn't seem especially surprising".
"I don't like it", Trump said Tuesday at the White House, referring to the Fed's rate hikes, the most recent of which was September 26.
During an event earlier Wednesday amid the sell-off, Trump and his top economic adviser, Larry Kudlow, said they believed the USA economy was strong.
In a brief interaction with reporters and later in comments to Fox News, Trump said the United States central bank was "too aggressive" in raising interest rates. "But I think the Fed has gone insane", he went on. "Where is the inflation that they are fighting?"
Dramatic and sustained stock market declines can feed into that outlook through a "wealth effect" if they begin to erode household and business confidence, and prompt consumers and investors to curtail spending. Economic growth has improved, and Republicans have taken steps to cut taxes and regulations.More news: Google Plus shutting down as social network bug exposes private data
But Trump loves to tout good economic news, and either dismisses bad economic news or blames it on the Fed.
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