Dow Jones Industrial Average (DJIA) futures plunged lower in early trading Thursday. It comes after the Federal Reservecut the target base rate by 25 points, as expected. But the stock market, not to mention Donald Trump, didn’t get what they wanted: a commitment to deeper, long-term cuts.
As usual, Trump didn’t hide his disgust at the Federal Reserve and chairman Jerome Powell, lashing out on Twitterminutes after the decision.
“Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision!A terrible communicator! ”
Dow futures slump 40 points on Thursday
(Dow Jones Industrial Average (DJIA) futuresslumped) points on Thursday after the Fed disappointed traders and ruled out a series of long-term rate cuts.