In another round of criticism directed at the Federal Reserve, President Donald Trump said the central bank is to blame for the big stock market DJIA, -0.68% drop on Wednesday but said he wasn’t going to fire its chairman, Jerome Powell. “I think the Fed is out of control. I think what they’re doing is wrong,” he said. “I think the Fed is far too stringent and they’re making a mistake.” The Fed has hiked interest rates three times in 2018 and its dot plot of forecasts suggests more increases will come.
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