The Federal Reserve is warning that an escalating trade war would pose a big threat to the economy. But Fed officials described the economic threat of a trade war in stronger language than they previously had as a growing risk to their plans. The Fed meeting, held July 31 and August 1, was the first after Trump began lashing out at Fed Chairman Jerome Powell for hiking rates. "I should be given some help by the Fed," said the president, who himself appointed Powell to lead the central bank. Since Trump took office, the Fed has raised rates five times, including twice this year under Powell.

Source: CNN August 22, 2018 18:30 UTC