President Trump shot down a report that indicated Treasury Secretary Steven Mnuchin’s time in his administration may be coming to an end over his role in the appointment of Federal Reserve Chairman Jerome Powell.
“I am extremely happy and proud of the job being done by @USTreasury Secretary @StevenMnuchin1,” Trump tweeted Friday. “The FAKE NEWS likes to write stories to the contrary, quoting phony sources or jealous people, but they aren’t true. They never like to ask me for a quote b/c it would kill their story.”
I am extremely happy and proud of the job being done by @USTreasury Secretary @StevenMnuchin1. The FAKE NEWS likes to write stories to the contrary, quoting phony sources or jealous people, but they aren’t true. They never like to ask me for a quote b/c it would kill their story.
— Donald J. Trump (@realDonaldTrump) November 23, 2018
However, the Wall Street Journal on Friday included a comment from White House deputy press secretary Lindsay Walters in its story on Trump’s growing concern that Mnuchin’s recommendation to head the Federal Reserve, who has raised interest rates, may hurt his prospects for re-election in 2020. The central bank has increased rates three times in 2018, which has triggered public complaints from the president.
“The president has been long clear about his views on the Fed,” Walters wrote in the statement. “Secretary Mnuchin has been effective in carrying out the president’s agenda,” she said, adding that Trump “appreciates” Mnuchin’s work.
The Wall Street Journal also reported that there were tensions between Trump and Mnuchin over stock market instability and disagreements regarding China and tariffs, despite their relationship predating the president’s arrival at the White House and the secretary’s loyalty during the campaign, transition, and as a Cabinet member.
Mnunchin has been liaising with Chinese officials ahead of Trump’s meeting next week with President Xi Jinping about trade in Buenos Aires, Argentina, during the G20 Summit.
