Trumps attacks on U.S. Fed chair spark big drops on Wall Street – National [Video]

U.S. President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy. Stock markets in the U.S. and Canada dropped as a result.

Trump called Jerome Powell “a major loser” and said that energy and grocery prices are “substantially lower” and “there is virtually No Inflation.” Yet Trump said the economy could slow without rate cuts.

Gas prices have fallen for the past two months, in part because oil costs have dropped on fears of slower growth, but food prices jumped in January and March and overall inflation remains above the Fed’s 2% target.

Trump’s comments drove the stock market and the U.S. dollar lower as investors in the U.S. and overseas grow increasingly wary about the economic standing of the U.S.

On Friday, a top White House adviser said the administration is studying whether it can fire Powell, a move …