Wake up to Mike Allen’s AM, the 10 stories driving your day

Stories

Trump says Federal Reserve has "gone crazy"

President Donald Trump speaks to reporters on the South Lawn. Photo: Mark Wilson/Getty Images

President Trump told reporters on Wednesday evening that the 832-point dip in the stock market is a self-correction and said the Federal Reserve has "gone crazy" after it raised interesest rates.

"I think the fed is making a mistake. It’s too tight. I think the Fed has gone crazy. You can say that’s a lot of safety, actually, and it is a lot of safety and it gives you a lot of margin, but I think the fed has gone crazy."

Why it matters: Trump has criticized the Fed for raising interest rates before, but also touted the rise as a signal of a strong economy. The move to raise interest rates was not unexpected and rates are still low amid Wednesday's market crash.

More stories loading.