Trump questions whether Fed’s Powell ‘bigger enemy’ of U.S. than China’s Xi after Jackson Hole speech

President Donald Trump on Friday said the Federal Reserve “did nothing” after Chairman Jerome Powell said the central bank is watching economic developments and will “act as appropriate.” Trump, who has frequently pressed the Fed to aggressively cut interest rates, asked in a tweet, “who is our bigger enemy,” Powell or Chinese President Xi Jinping, after China announced new tariffs on American products. The Dow Jones Industrial Average

DJIA, -1.64%

flipped into positive territory Friday after Powell’s speech, following early losses after the China tariff news was announced.

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