Mnuchin Risks Becoming Trump's Target as Market Slide Worsens
(Bloomberg) -- Steven Mnuchin is struggling to contain his first real crisis as Treasury secretary, failing to assuage investors unnerved by turmoil in Washington and making him a target of President Donald Trumps wrath over stock market losses.
An emergency meeting with top U.S. regulators that Mnuchin convened on Monday and a call with executives from six major banks the previous day failed to address concerns about the administration that have intensified in the wake of a Bloomberg News report that Trump had discussed firing Federal Reserve Chairman Jerome Powell.
Trumps frustration with Powell over the markets performance -- expressed in tweets and interviews -- now may turn to his Treasury chief. One person familiar with the presidents thinking says that Trump has weighed dismissing Mnuchin, while another said that Mnuchins tenure may depend in part on how much markets continue to drop.
Since taking office, Trump has looked to the stock market as a benchmark for his presidency. Yet much of the gains in equities since his election have been been erased by months of turmoil, as investors grow increasingly concerned about the impact of the administrations trade battles with China and Europe.
https://www.msn.com/en-us/news/politics/mnuchin-risks-becoming-trumps-target-as-market-slide-worsens/ar-BBRp2zy?li=BBnb7Kz
Well it can't be the dotard's fault. He's a stable genius.