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Sept. 11, 2019, 3:04 p.m. EDT

Trump attacks ‘boneheads’ at Fed and moves to crack down on vaping

President warns terrorists on 9/11 anniversary

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By Robert Schroeder, MarketWatch


Getty Images
President Donald Trump and first lady Melania Trump are joined by survivors, victims’ families, and White House staff as they participate in a moment of silence on Wednesday morning.

President Donald Trump expressed support for negative interest rates on Wednesday, and moved to crack down on vaping as he called it a danger to children.

NEGATIVE RATES AND ‘BONEHEADS’ AT FED

Trump’s latest round of Federal Reserve bashing came with a twist: he became the first U.S. president to say he’d want interest rates below zero, as MarketWatch reports.

See: Trump tweets support for negative interest rates.

Now read: Dear Mr. President, why is it a good thing if a 10-year Treasury note is worth less than a bag of dirt?

The president’s tweets — in which he called Fed officials “Boneheads” — came as the central bank is readying for its Sept. 17-18 policy meeting. He said the Fed should bring rates “down to ZERO, or less.” Wall Street, meanwhile, is expecting the Federal Open Market Committee to trim its benchmark interest rate by a quarter-percentage point to a range of 1.75%-2%.

Also read: JPMorgan boss Jamie Dimon keeps one eye on zero rates .

U.S. Treasury yields /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -0.24%   dipped slightly before recovering, as stocks /zigman2/quotes/210599714/realtime SPX -0.29%   climbed.

VAPING CRACKDOWN

In a meeting in the Oval Office that didn’t appear on the White House schedule, Trump said his administration planned to ban the sale of all non-tobacco-flavored vaping products.

“We can’t allow people to get sick,” the president said. “People are dying.” Shares of tobacco giant Altria /zigman2/quotes/208895754/composite MO -0.19% , which owns 35% of vaping company Juul, lost ground after the announcement.

See: Trump administration targets vaping, unveiling plan to ‘clear flavored e-cigarettes from the market’

TERRORIST WARNING ON 9/11

Speaking at the Pentagon after observing a moment of silence on the South Lawn of the White House, Trump also issued a warning to terrorists who would attack the U.S. again.

On the anniversary of the Sept. 11, 2001 attacks, Trump said: “if for any reason they come back to our country, we will go wherever they are, and use power, the likes of which the United States has never used before.”

Shortly before marking the moment of silence, Trump tweeted three times criticizing a Washington Post-ABC News poll that showed him trailing five Democratic presidential contenders . He said it was done by “one of the worst pollsters of them all.”

Now see: Here’s who America’s CEOs are backing in the Democratic presidential race.

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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
0.67
-0.0016 -0.24%
Volume: 0.00
Sept. 23, 2020 10:08a
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US : S&P US
3,305.88
-9.69 -0.29%
Volume: 342.09M
Sept. 23, 2020 10:08a
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/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 38.48
-0.07 -0.19%
Volume: 762,828
Sept. 23, 2020 10:08a
P/E Ratio
N/A
Dividend Yield
8.89%
Market Cap
$71.64 billion
Rev. per Employee
$2.36M
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Robert Schroeder is the White House reporter for MarketWatch. Follow him on Twitter @mktwrobs.

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