Trump spends his Christmas Eve ranting about his enemies and the Fed’s rate hikes

President Donald Trump spent the early hours of Christmas Eve attacking his political enemies and criticizing the Federal Reserve, as the government entered its third day of partial shutdown and markets tanked yet again.

“I am all alone (poor me) in the White House waiting for the Democrats to come back and make a deal on desperately needed Border Security,” the president wrote in a post on Twitter.

The tweet came minutes after the president posted attacks on the Fed, Democrats, the top Republican lawmaker on the Senate Foreign Relations Committee, and the special envoy in charge of combatting ISIS, who announced over the weekend that he would be resigning at the end of the month after Trump decided to pull American troops from Syria.

Trump, who canceled a planned vacation to Florida as 800,000 federal employees remain without pay, spent the morning posting his grievances on Twitter.

The president’s posts come amid growing uncertainty in Washington. The shutdown continued without a resolution in sight. Meanwhile the administration itself remains in a state of flux after the surprise departure of Defense Secretary James Mattis, which Trump accelerated by two months over the weekend.

As stocks tumbled following the worst week for markets since the 2008 financial crisis, the president wrote on Twitter that the “only problem our economy has” is the Fed, accusing the central bank of not having “a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders.”

The Federal Reserve has a dual mandate to keep prices stable and achieve maximum employment. The Fed aims to accomplish those goals primarily by setting interest rates at a level that will prevent runaway inflation or deflation.

Last week, the Fed raised its benchmark interest rate for the fourth time this year and signaled it would hike rates twice in 2019.

[CNBC]

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