Fed’s Powell Is ‘100%’ Safe, Trump Adviser Hassett Says

U.S. stocks have worst Christmas Eve ever

U.S. stocks have worst Christmas Eve ever

The tweet heightened fears about the potential destabilisation of the economy by a president who wants control over the Fed. Additionally, at various times he has vented in public and in private about various members of the Administration, most of whom still remain on the job. They added: 'Mnuchin is under the gun'.

So far, Trump has publicly backed Mnuchin, calling him a "very talented" guy, however, Trump's past praise has meant little when the mercurial POTUS decides it is time for the person to go.

President Trump criticized Federal Reserve interest-rate increases and said on Tuesday a partial USA government shutdown wouldn't end until Congress funded a wall along the border with Mexico, holding firm on his policy stances against the backdrop of a global economic slowdown and an extended world-wide stock plunge.

Not only is it noteworthy that the head of a foreign oil company would criticize the Federal Reserve, but it could open the floodgates for more criticism over Fed policy, second-guessing and angst over what should remain an institution undeterred by both domestic and worldwide politics.

Trump has fumed at Powell for raising interest rates, which Trump believes is driving the stock market lower.

Presidents have met with Fed leaders in the past.

The article reports that (Powell made a mention of this in his last presser earlier this month) Powell plans to hold a press conference in each of the eight FOMC meetings next year as opposed to the one every quarter that we see now - alongside the Summary of Economic Projections.

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An administration source dismissed the latest round of rumors that the secretary's continued tenure was on the line.

"When the press finds mistakes that we make, we don't like making mistakes, but we're grateful when they're pointed out, because we want to correct them", Hassett said.

A day later, the Dow took a nosedive of more than 650 points, the worst Christmas Eve trading day ever. The two men spoke on a variety of issues, including the government shutdown and an update on the status of trade talks.

However a source told Bloomberg that Mnuchin had done so without the advice of POTUS.

Still, not everyone thinks Mnuchin's job may be a risk.

Mr Trump blasted the Fed again, this time saying it was the United States economy's "only problem", and investors have closely followed reports the president had privately discussed the possibility of firing Mr Powell. That doesn't mean that he's entirely secure, of course. Mnuchin would be wise to keep that in mind.

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