Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Photo: Andrew Caballero-Reynolds/AFP/Getty Images
Fed Chair Jay Powell said in a closely watched speech Friday that the central bank is ready to support economic growth but "stopped short of signaling the start of a more aggressive easing campaign," the Wall Street Journal reports.
Why it matters: Worries of an economic downturn have increased in recent weeks, and Powell warned that "trade policy uncertainty" is a driving factor for the market's fears. President Trump has stepped up his calls for the Fed to do more to stimulate the economy — going so far as to tweet just minutes before Powell's speech — even though interest rates are already near historic lows.
Unsurprisingly, Trump took to Twitter again to slam Powell just after his speech ended, asking, "My only question is, who is our bigger enemy, Jay Powel [sic] or Chairman Xi?"
- He added: "As usual, the Fed did NOTHING! It is incredible that they can 'speak' without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work 'brilliantly' with both, and the U.S. will do great."
Go deeper: China announces retaliatory tariffs on $75 billion of U.S. goods