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Trump-FOMC Blame Game Is Pointless; Safety Stocks for Crashes -- ICYMI

Michael Brown

Donald Trump is blaming the Fed for the abysmal market performance of the last two days. As Brad Keoun points out, he's not really wrong, but all the jawboning isn't likely to make much of a difference when it comes to the Fed's propensity to raise rates. "Trump's stated desire for an ever-hotter economy and surging stock market isn't likely to dissuade Fed Chairman Jerome Powell from further rate increases," Brad writes citing Eric Winograd, senior economist at the money manager Alliance Bernstein.