‘Under The Gun’: Trump Losing Confidence In Mnuchin Over Xmas Eve Market Drop

US Treasury Secretary Steven Mnuchin delivers a speech during the G20 meeting of Finance Ministers and Central Bank Governors, in Buenos Aires, on March 20, 2018. Mnuchin said the United States is not seeking a trad... US Treasury Secretary Steven Mnuchin delivers a speech during the G20 meeting of Finance Ministers and Central Bank Governors, in Buenos Aires, on March 20, 2018. Mnuchin said the United States is not seeking a trade war over tariffs but does not fear one. The United States and China -- whose differences are fueling fears of a trade war -- are flexing their muscles at the start of a G20 meeting of finance ministers expected to focus on tariffs, tech and taxes. / AFP PHOTO / Juan MABROMATA (Photo credit should read JUAN MABROMATA/AFP/Getty Images) MORE LESS
Start your day with TPM.
Sign up for the Morning Memo newsletter

Despite issuing public praise of his treasury secretary on Christmas Day, President Trump is quietly fuming over what he sees as Steven Mnuchin’s failed attempts to quell a tumultuous market on Christmas Eve, and Mnuchin’s fate as a member of the Trump administration is becoming increasing uncertain, CNN reported.

“Mnuchin is under the gun,” a source close to the White House told CNN.

In recent weeks, Trump has become frustrated with Mnuchin over his advice that he appoint Jerome Powell as the chairman of the Federal Reserve, whom Trump has openly lambasted in recent weeks over increased interest rates. Trump was reportedly not happy over the weekend with how Mnuchin handled an especially volatile market, which culminated with an unprecedented market drop on Monday — the Dow dipped by 2.9 percent and the S&P 500 fell 2.7 percent.

On Christmas Day, Trump dismissed reports that he’s losing patience with Mnuchin and praised his treasury secretary as a “very talented, very smart person.”

Read CNN’s full report here. 

Latest News
48
Show Comments

Notable Replies

  1. Avatar for tsp tsp says:

    Well, we always knew the Dotard was a little slow, but better late than never.

  2. To Mnuchin I would like to offer the most sincerest of:

  3. Well thank dog Trump is in charge because HE ALONE can fix it. /s

    The monumental stupidity is catching up to him
    The money boys are not amused and the clock is ticking.

  4. Time for some trust-building exercises at the White House. Must maintain morale.

  5. Best advice for you tRump is to fire everyone and see where that gets you. Your chances at winning are not going to improved no matter what you do. You are doomed.

Continue the discussion at forums.talkingpointsmemo.com

42 more replies

Participants

Avatar for system1 Avatar for daveminnj Avatar for mondfledermaus Avatar for bojimbo26 Avatar for sickneffintired Avatar for left_in_washington_state Avatar for denisj Avatar for ottnott Avatar for dickweed Avatar for fiftygigs Avatar for darrtown Avatar for zlohcuc Avatar for clauscph Avatar for docd Avatar for tsp Avatar for jacksonhts Avatar for corncaucus2008 Avatar for katscherger Avatar for socalista Avatar for redhand Avatar for zillacop Avatar for occamscoin Avatar for captain_america Avatar for angrychickadee

Continue Discussion
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Deputy Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: