Saturday, November 24, 2018

Mnuchin should pack his gold-lined bags

President Donald Trump has expressed dissatisfaction with Treasury Secretary Steven Mnuchin, blaming him for the appointment of Federal Reserve Chairman Jerome Powell, The Wall Street Journal reported, citing people familiar with the matter.

Trump, who nominated Powell a year ago to succeed Janet Yellen, has repeatedly criticized the Fed chairman for increasing interest rates. Trump fears rising rates could trigger an economic downturn that would jeopardize his 2020 re-election campaign, the Journal reported. The Federal Reserve, led by Powell, has raised interest rates repeatedly and is expected to do so again in December.

Never let anyone tell you Trump isn't generous. He hands out blame like he's got so much to go around he'll never run out.

Yeah, yeah, yeah.
In a statement to the Journal, White House spokeswoman Lindsay Walters said: "The president has long been clear about his views on the Fed. He has a good relationship with Secretary Mnuchin and is thankful for all the work he does on behalf of his administration and the American people."

Mnuchin reportedly made an aggressive push for Powell's nomination behind the scenes.

Trump picked Mnuchin in 2016 and has asked advisors whether he should have asked someone else to fill the job.
Why does he do that? Ask advisors about people in the administration? It's not like he gives a shit what his advisors think. But it seems like a common thread in these types of stories. Maybe he's just making a list of who's on whose side.
In meetings with advisors, Trump has also expressed unhappiness with the Treasury Department's lack of support for tariffs against China, the newspaper said.


Trump criticized Mnuchin, pointing to recent stock market volatility, during a conversation with someone who praised his performance at the Treasury Department, the Journal reported, citing a person familiar with the matter.

"If he's so good, why is this happening?" Trump reportedly said.
Yep. That person's on his way out, too.

 ...but hey, do what you will anyway.


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