Saturday, November 24, 2018

Is Trump About to Axe Treasury Secretary Mnuchin?

UPDATE BELOW: Trump in furious response

President Trump has expressed dissatisfaction with Treasury Secretary Steven Mnuchin, blaming him for the appointment of a Federal Reserve chairman who has been raising interest rates, reports The Wall Street Journal.

According to WSJ, in conversations with advisers in recent weeks, Trump also has voiced displeasure with Mnuchin over the turbulent stock market and the Treasury chief’s skepticism toward the sort of punitive trade actions the White House has taken against China.

WSJ notes that aides fall in and out of favor in a White House known for high turnover, and Trump’s pique doesn’t necessarily mean Mnuchin is in danger of losing influence or being replaced. But Trump’s private complaints have sparked concerns among some of  Mnuchin’s supporters that he might be tracing the same downward path as some of the other ex-cabinet members who have run afoul of the president, such as former Secretary of State Rex Tillerson and Attorney General Jeff Sessions.

Mnuchin is, for the most part, a suck up to Trump. However. he tends to be a voice in favor of free trade and against tariffs. In that sense, his departure would be missed by free market advocates. He would not likely be replaced by a free trader.



Trump has responded with a tweet supporting Mnuchin:


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