Mnuchin says market reaction to Fed is 'completely overblown' (Dow is down 600 points today)

[TeamPooka]

Idiot says what?
Wall Street doesn't care what he thinks.
Dow is down 600 points today
Mnuchin says market reaction to Fed is 'completely overblown'
https://www.marketwatch.com/story/mnuchin-says-market-reaction-to-fed-is-completely-overblown-2018-12-20?mod=bnbh

Treasury Secretary Steven Mnuchin said Thursday the market's negative reaction to the Fed's interest-rate hike was "completely overblown." In an interview on Fox Business Network, Mnuchin noted the central bank lowered the high-end of its projected path of rate hikes. "The Fed has said they're close to done. They said they are data dependent. So I think the market has overreacted and U.S. equities are [a] tremendous value," he said. Stocks have fallen to a 14-month low after the rate decision. Mnuchin also said his team was not worried about the impact of the Fed shrinking its balance sheet on the Treasury market. The agency is comfortable with the supply of Treasury securities and officials "don't see that really as big an issue as the market seems to be focusing on," he said.

[D_Master81]

1. ever notice

when news is bad the administration tells us people are overreacting, blah blah blah, but when the market went up and up for weeks that was just b/c of the great economy Trump had created?

[Sherman A1]

2. Yup

pretty much covers it.

[workinclasszero]

5. Yep

Its all because of Trump when it goes up but other peoples fault when it jumps off a cliff.

[unblock]

3. Nice spin. Couldn't have anything to do with Donnie shutdown threats, right?

[workinclasszero]

7. Naw

Oh wait........


Dow Plunges More Than 600 Points on Worries Over Government Shutdown

The Dow is headed for another 52-week low Thursday on concerns over a partial government shutdown and after the Federal Reserve hikes rates for a fourth time this year.

By The Street Staff Updated Dec 20, 2018 2:23 PM EST

https://www.thestreet.com/markets/dow-extends-decline-after-fed-hikes-rates-14816689

[SWBTATTReg]

4. M doesn't know crap and also, M, shut up!

Overblown? Are you daft or something? Thousands of market professionals are taking action that is the reverse of what you are advocating. Obviously they see something that you don't (and won't ever see either since you've been blinded by rump and rump's logic).

[LovingA2andMI]

6. Actually....

The Fed is doing EXACTLY what they should do. Increase interest rates, decrease risk taking measures and slow down the economy as a recession is around the corner.

Oh, and if one have not reallocated their 401K -- Do So Now. Less Risk, More Bear.

[winstars]

8. Hey Asshole, no one watches FBN so no one heard you. And fuck you to you and your wife!!!

[elleng]

9. Maybe the markets weren't reacting to the Fed,

but to OTHER things happening.

UNCERTAINTY does it, and one thing we can be certain of, trump will find new and 'better' ways to do damage, every day, in every way.