Trump says the Federal Reserve has 'gone crazy'

Baku. 11 October. REPORT.AZ/ "I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy," US president Donald Trump said.

Report informs citing TASS that President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence.

"I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy," the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

The U.S. central bank has raised interest rates three times this year and is largely expected to hike once more before year-end.

Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday. The S&P 500 posted its worst day since February and clinched its first five-day losing streak since 2016.