‘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
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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. 

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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.

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