President Trump has weighed dismissing Treasury Secretary Steven Mnuchin, a source familiar with the president’s thinking told Bloomberg News.
Another source told Bloomberg said that Mnuchin’s future at the helm of the Treasury Department depends on whether the market continues to drop.
Trump’s unhappiness with his Treasury chief was reported a day after Mnuchin released a statement seeking to reassure financial markets as stocks continued to plunge. Mnuchin’s statement came following reports that Trump was considering firing Federal Reserve Chairman Jerome Powell.
Trump has reportedly asked if some of his advisers could meet with Powell, which would undermine Mnuchin’s authority, according to Bloomberg. Mnuchin meets with Powell every week and the Treasury chief is typically tasked with relaying the White House’s views.
“There are plenty of people inside the White House who are not fans of Mnuchin who are happy to throw him under the bus,” Stephen Myrow, a former Treasury official and managing partner at Beacon Policy Advisors in Washington, D.C., told Bloomberg. “Up ’til now, he’s been protected by the fact that Trump liked him and he’s been a loyalist.”- READ MORE