United States treasury secretary calls for ‘plunge protection team’, amid government shutdown

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"But I think they will get it pretty soon", added the president, who has dubbed the supposedly independent central bank "crazy" and "out of control".

Mnuchin spoke on Sunday with the heads of the six largest USA banks, who confirmed they have enough liquidity to continue lending and that "the markets continue to function properly".

"This is the type of announcement that raises the question of whether Treasury sees problems that the rest of the market is missing", said Jaret Seiberg, an analyst with Cowen Washington Research Group, in a note.

So far, Trump has publicly backed Mnuchin, calling him a "very talented" guy, however, Trump's past praise has meant little when the mercurial POTUS decides it is time for the person to go.

Mnuchin, a former broker and film financier, has always been one in all Trump's nearest advisers, dating back to his time operating with Trump on the 2016 presidential campaign. The Nasdaq's bear market fall continues as well, sitting over 20 percent less than August's record highs.

Among many other tweets about the market and economy, Trump has directly attacked the Federal Reserve, a practice avoided by other recent presidents in order to keep the Fed walled-off from politics.

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Mr Trump's comments came after Asian markets suffered a holiday rout on fears about the U.S. economy and an ongoing government shutdown in Washington that began last Saturday. He had "great confidence" in the American company.

"We've all been doing that really quite a bit over the few weeks". Asked Tuesday whether he also had confidence in Powell, Trump said the Fed is raising rates "because they think the economy is so good". "I think she's now in that unfortunate position of being beholden to her left wing, to where she can not be seen as agreeing with the president on anything until after she's speaker".

On Sunday, the Treasury Department tweeted that Mnuchin "conducted a series of calls today with the CEOs of the nation's six largest banks" - Bank of America, Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley and Wells Fargo. Trump has fumed at Powell for raising interest rates, which Trump believes is driving the stock market lower.

Trump has largely laid the blame for economic headwinds on the Fed, openly criticizing its chairman, Jerome Powell, whom he appointed. Amid concerns of political gridlock and government shutdown, sluggish economic growth and squeezed economy, and, a report indicating informal discussions of possible firing of Federal Reserve Chairman Jerome Powell, the Wall St.

Over the weekend, Treasury Secretary Steven Mnuchin set off market anxiety after he sought to reassure investors about the partial shutdown with a statement saying that major banks have "ample liquidity".

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