Trump Says Fed Has Gone 'Crazy' With Interest Rate Hikes

President Donald Trump reportedly said the Federal Reserve "has gone crazy" by raising interest rates, continuing his criticism of the central bank's path on monetary policy. The Fed is doing what it thinks is necessary but I don't like what they're doing because we have inflation really checked, and we have a lot of good things happening.

The Dow Jones Industrial Average plummeted 832 points on Wednesday, recording its largest single-day point drop since February.

"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.

"The Fed has gone insane", he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally.

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But he's also calling the drop "a correction we've been waiting for for a long time".

In September, the Federal Reserve raised short-term interest rates for the third time this year.

Trump said Tuesday that the economy is enjoying "record-setting" numbers and "I don't want to slow it down even a little bit, especially when we don't have the problem of inflation". "We can do other things with the money", the president said at a September press conference in NY.

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