What's moving markets today: Live updates - CNN

President Donald Trump attacked the Federal Reserve once again on Monday morning, when he called into CNBC's Squawk Box show to talk tariffs, trade and corporate America.

When asked whether Beijing was devaluing its currency to lessen the impact of US-imposed tariffs, the president said "Absolutely. They devalue their currency and they have done for years."

The United States didn't have that advantage with the strong dollar, he said. And the Fed's interest rates hikes were to blame.

The Fed is very, very disruptive for us," said Trump

"They made a big mistake, raising interest rates far too fast," the president continued. China, on the other hand, was pumping money into its system while devaluing its currency, he said, adding that Chinese President Xi Jinping was the de facto head of the central bank.

Trump's continued attacks on the Fed and its monetary policy have some investors worried about the central bank's independence.

The Fed has raised interest rates nine times since cutting rates to ultra-low levels in the aftermath of the financial crisis. However, it took its foot off the gas in January and is now expected to cut rates before the end of the year amid slowing economic growth and risks posed by the ongoing trade spat.

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https://www.cnn.com/business/live-news/stock-market-news-today-061019/index.html

2019-06-10 14:25:00Z
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