Trump criticizes the market's "good news not rising" anomaly and warns dissenters not to expect to steer the Federal Reserve.
U.S. President Trump posted on social media praising the third quarter GDP data, pointing out that GDP growth reached 4.2%, far exceeding the expected 2.5%. However, the market's reaction is unusual: in the past, good news drove the market up, but now good news often leads to the stock market leveling off or declining—because Wall Street is always worried that good news will immediately trigger interest rate hikes to prevent "potential" inflation.
Trump said, "This makes it increasingly difficult for us to replicate the prosperous market of the nation's rise. A strong market itself does not trigger inflation; wrong policies do. I hope the new Federal Reserve chairman lowers interest rates when the market is doing well, rather than arbitrarily suppressing the market. I want to see a market that has not been seen in decades: a market that rises when it should and falls when it should, a market that is supposed to be this way, and once was."