The Dow dipped about 160 points as of about 11 a.m. Thursday — prompting President Trump to blame the House-led impeachment effort that lawmakers voted on.
“The Impeachment Hoax is hurting our Stock Market. The Do Nothing Democrats don’t care!” the president tweeted at 10:57 a.m.
He also went after chairman Jerome Powell again after the Federal Reserve cut interest rates by a quarter-point for the third time this year in an effort to boost the economy.
“People are VERY disappointed in Jay Powell and the Federal Reserve. The Fed has called it wrong from the beginning, too fast, too slow. They even tightened in the beginning. Others are running circles around them and laughing all the way to the bank,” he tweeted.
“Dollar & Rates are hurting our manufacturers. We should have lower interest rates than Germany, Japan and all others. We are now, by far, the biggest and strongest Country, but the Fed puts us at a competitive disadvantage. China is not our problem, the Federal Reserve is! We will win anyway,” he continued.
Trump has repeatedly slammed Powell for not making deeper cuts in interest rates.