President Trump said on Oct. 30 that inflation is "way down" and income for people and companies is "way up," but the Federal Reserve said inflation remains elevated and above its objective. Federal Reserve Chairman Kevin Warsh said Americans have faced inflation above the committee's objective for close to six years, with energy and related prices rising again. The Federal Open Market Committee held the federal funds target range at 3.75% to 4% on Oct. 28 and said more information would guide policy toward its 2% inflation goal. The S&P 500, Nasdaq Composite and Dow Jones were up 12.57%, 12.69% and 8.19%, respectively, year to date, while their exchange-traded fund trackers fell in Thursday trading and declined further in Friday premarket trading.