What's moving markets today: Live updates – CNN

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Dow 35,000, here we come!

Even though US stock indexes are near near their all-time highs, President Donald Trump believes equities have been suppressed by central bank policy.

In yet another attack against the Federal Reserve over the weekend, Trump claimed that the stock market — presumably meaning the Dow — would be 5,000-10,000 points higher if the central bank “had done its job.”

That would be a not-so-casual 19-38% jump from the Dow’s Friday close at 26,412 points, which wasn’t too far off its historical high of 26,951.

On top of that, the Fed would not have been doing its job if US inflation was nil.

At present, the central bank’s inflation target is 2%, measured by the price index for personal consumption expenditures, or PCE. In January, the index stood at an annualized 1.4%, while the core measure excluding energy read 1.8%.

That is well below 2%, supporting the Fed’s decision to keep its interest rate increases on hold for now.

Central banks around the world have been struggling with a low inflation environment over the past years, raising questions about whether the common 2% target was still appropriate.

As of now, however, it still is.