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.
