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In a tumultuous series of announcements, the administration has raised, lowered, delayed and retracted tariffs in response to ongoing trade negotiations and stock market reaction.

"I'm completely on board with the president's sympathies or comments that the Fed has historically been late," he said, adding that he thought stock market falls had been driven primarily by questions about trade policy.

Pundits and analysts keep saying that the huge drops in the stock market and the subsequent, ongoing volatility are a reflection of their deep dissatisfaction over Trump tariff policies.

After the remarks, major stock markets were higher in Wednesday morning trade.

To that point, Trump’s initial tariff regime was so disruptive it is estimated that U.S. stock markets lost trillions of dollars in value over a week-long period earlier this month.