According to a report from Bloomberg News, President Donald Trump has been considering firing Treasury Secretary Steve Mnuchin for some time now, and his latest press release escapade that set the markets reeling on Christmas Eve might have been the last straw.
With the stock market taking a record dive on Monday, Bloomberg reports that the knives are out for Mnuchin, who did his damage while vacationing in Mexico while Trump postponed his holiday vaction to Mar-a-Lago to deal with the government shutdown.
According to the report, “Trump’s frustration with Powell over the market’s performance — expressed in tweets and interviews — now may turn to his Treasury chief. One person familiar with the president’s thinking says that Trump has weighed dismissing Mnuchin, while another said that Mnuchin’s tenure may depend in part on how much markets continue to drop.”
The report goes on to say that Mnuchin doesn’t have many fans in the White House other than Trump who appears to be souring on him as he has done with multiple administration hires.
“There are plenty of people inside the White House who are not fans of Mnuchin who are happy to throw him under the bus,” explained Stephen Myrow, managing partner at Beacon Policy Advisors in Washington and a former Treasury official. “Up ’til now, he’s been protected by the fact that Trump liked him and he’s been a loyalist.”
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