Exacerbating recession fears, Trump diverts blame to Fed for 'CRAZY INVERTED YIELD CURVE!'


The president has weighed in on the possibly, but maybe not actually ominous inverted yield curve.
President Trump isn't a fan of the "crazy" inversion, but unlike many of his critics who have placed America's trade war with China front and center when it comes to reasons why a global recession might be looming, he's pointing to a different problem — and it's not one of the items on Nobel Prize-winning economist Paul Krugman's smorgasbord of economic issues, either.
No, Trump's mad at the Federal Reserve, like he has been for a while. The president frequently clamored for the Fed to slash interest rates, and even though Fed Chair Jerome Powell did eventually cut rates in July, Trump has deemed the action far too little, too late.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Many economists don't agree with Trump. Krugman, for instance, doesn't place sole responsibility for the global economy's teetering on the trade war, but he does consider it a factor. Meanwhile, The Washington Post also reports that the trade war, often through indirect effects like a decline in business confidence and investment, has played a major role in the slowdown. Considering markets closed with their biggest point declines of the year soon after his tweet, it's clear Trump didn't do much to mollify spooked investors.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
6 well-crafted log homes
Feature Featuring a floor-to-ceiling rock fireplace in Montana and a Tulikivi stove in New York
-
‘The nonviolence resulted from the organizers’ message’
Instant Opinion Opinion, comment and editorials of the day
-
NY attorney general asks public for ICE raid footage
Speed Read Rep. Dan Goldman claims ICE wrongly detained four US citizens in the Canal Street raid and held them for a whole day without charges
-
Warner Bros. explores sale amid Paramount bids
Speed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
China’s rare earth controls
The Explainer Beijing has shocked Washington with export restrictions on minerals used in most electronics
-
Gold tops $4K per ounce, signaling financial unease
Speed Read Investors are worried about President Donald Trump’s trade war
-
The struggles of Aston Martin: burning cash not rubber
In the Spotlight The car manufacturer, famous for its association with the James Bond franchise, is ‘running out of road’
-
Why are beef prices rising? And how is politics involved?
Today's Big Question Drought, tariffs and consumer demand all play a role
-
Electronic Arts to go private in record $55B deal
speed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
Labor: Federal unions struggle to survive Trump
Feature Trump moves to strip union rights from federal workers
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth