Economy

White House: Fed Chairman Job Is Safe

White House: Fed Chairman Job Is Safe

A White House official has assured that the head of the US Federal Reserve is not at any risk of losing his job, amid jitters on Wall Street throughout December caused in part by Trump's criticism of the Fed.

"I am highly confident that the president is very happy with Secretary Mnuchin", White House Council of Economic Advisers Chairman Kevin Hassett told Charles Payne. "I think it is to buy a great opportunity". The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy.

"I have great confidence in our companies". We are absolutely committed to that mission and nothing will deter us from doing what we think is the right thing to do.

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The President - answering reporters' questions at the White House after addressing U.S. armed forces members on a Christmas Day video conference call - said the Fed was hiking borrowing costs because the "economy is doing so well", adding that USA companies were having "record kinds of numbers" and it is a "tremendous opportunity to buy".

During the pre-holiday shortened session on Monday, Dec. 24, the Dow Jones Industrial Average gave away more than 650 points as investors grappled with news that Trump held a private discussion about the possibility of ousting Mr. Powell. "So I think it's a tremendous opportunity to buy". In the center of his criticism of the Central Bank, the Federal Reserve (Fed) increased the interest rates, having regard to the economic data slowly, but steadily.

Contrary to USA media reports that Trump's frustration with Mnuchin ratcheted up after the latter's failed attempt to put a brake on the free-fall of major US stock indices leading to the Christmas holiday, the president told reporters Tuesday morning in the Oval Office that he has confidence in Mnuchin, and that the secretary is a "very talented and very smart person".

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To the displeasure Trumps further gradual interest rate increases, according to the (Fed) last week probably.

However, it added that there would be fewer rate increases next year, with the USA economy having been growing strongly and the job market improving.

Markets have been roiled by ongoing uncertainty in the U.S., with Treasury Secretary Stephen Mnuchin berated for holding a call with the six biggest United States banks and then reporting on Twitter that the six CEOs have "ample liquidity" available.

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