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A live look now at the numbers on Wall Street at this hour
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The S&P 500 was up 0.2% in early trading. The Nasdaq composite ALO also opened this morning 1.10%
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and the Dow Jones Industrial was down around 500 points. Now, Fox News' Antoine Lewis is here watching all of these morning developments
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Antoine, what's the very latest? Very latest, absolutely. Now, that slight rebound that you just mentioned, Bianca, comes, as you pointed out
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the president picking a fight with the head of the Federal Reserve. Now, the trade war continues to cast a shadow over the markets
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And as they try to get back Wednesday's losses, raising or cutting interest rates likely won't happen unless the data demands it
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This according to Federal Reserve Chairman Jerome Powell. Take a listen. For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance
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And that is what's starting to irk the president, if you will
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To that end, the White House and Powell are not on the same page. Mr. Trump posted on social media this morning, take a look at that, that Powell should have cut interest rates a long time ago
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saying that Powell is, quote, too late and always wrong in that post
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Mr. Trump referred to the fact that the Federal Reserve's counterpart in Europe actually cut rates multiple times
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Now, Trump ended the post with Jerome Powell's termination couldn't come fast enough
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suggesting that Powell's tenure may be actually coming to an end. So that back and forth is playing out today in D.C
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Now, the president's criticism of Powell comes as he's about to meet with Italy's prime minister this afternoon to discuss tariffs and the trade war, which, of course, the market ysts are definitely watching closely to see how this will impact Wall Street today as it closes
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That's my story I'm working on, Bianca, but that's the very latest. I have it for you coming up later this afternoon
