Report: Markets Drop Over 600 Points in Worst Christmas Eve Ever
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Upon reports that President Trump is considering ousting Federal Reserve chairman Jerome Powell.
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The Dow Jones Industrial Average reportedly dropped 653 points on Monday, falling below 22,000 points and marking the worst ever Christmas Eve for the markets. According to CNBC, the Dow plunged two percent before it rose, then sank over two percent once more. The S&P 500 and Nasdaq reportedly dropped 2.7 percent and 2.2 percent, respectively. The website reports the volatile markets were primarily caused by reports stating President Trump was considering removing Federal Reserve chairman Jerome Powell. Monday morning, Trump tweeted the economy's only problem was “the Fed.” “They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders,” the president wrote. Treasury Secretary Steven Mnuchin also called the leaders of the six largest U.S. banks this weekend to confirm the banks' had “ample liquidity” available for lending to consumers and businesses.
The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!
