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UPDATE 1-Trump calls stock selloff 'a correction,' says Federal Reserve is 'crazy'


'crazy'@ (Adds details) ERIE, Pa., Oct 10 (Reuters) - U.S. President Donald Trump said Wednesday's stock market selloff was in fact a long awaited "correction," and that the Federal Reserve, which has been raising U.S. interest rates, has gone "crazy." Trump's use of the word "correction" to describe the selloff could be significant. A stock market correction is defined as a fall of at least 10 percent from the high point of the last 52 weeks. "Actually its a correction that we've been waiting for a long time, but I really disagree with what the Fed is doing, Trump told reporters before a political rally in Pennsylvania. "I think the Fed has gone crazy," Trump said. U.S. stocks tumbled on Wednesday,