“If He’s So Good, Why Is This Happening?”: Trump Reportedly Blames Mnuchin For Market Carnage

Saturday, November 24, 2018
By Paul Martin

by Tyler Durden
Fri, 11/23/2018

President Trump’s volatile temper and readiness to blame members of his cabinet for defying him or making decisions that hurt the president’s image has been well-documented. And as a handful of Trump’s cabinet members are reportedly facing the possibility of being fired or otherwise ousted before the end of the year – and Jeff Sessions has already been fired – we can now add yet another name to that list: Treasury Secretary Steven Mnuchin.

According to the Wall Street Journal, President Trump has been “expressing dissatisfaction” with Mnuchin, as the falling stock market has helped sour the president’s attitude toward a key member of his administration who has previously been seen as relatively secure in his standing.

The upshot of the report is that Trump is blaming Mnuchin for picking Jerome Powell to lead the Federal Reserve. Powell isn’t very popular in the West Wing right now, as Trump has made abundantly clear with his repeated attacks on the Fed. Trump has blamed Powell for insisting on raising interest rates, and even hinted at times that he could be open to making a change at the central bank, something that has evoked nothing short of abject horror on Wall Street.

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