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Trump voices confidence in Mnuchin and fed, easing market alarms

He said the Fed was hiking borrowing costs because the "economy is doing so well," adding that US companies were having "record kinds of numbers" and it was a "tremendous opportunity to buy."

Trump
Donald Trump

Donald Trump expressed confidence in the Treasury secretary, Federal Reserve and US economy on Tuesday, moving to calm financial markets further roiled after Bloomberg News reported that the president had discussed firing the central bank’s chairman over raising interest rates. Trump, asked if he had confidence in Treasury Secretary Steven Mnuchin, said, “Yes I do, very talented guy, very smart person.” Asked about Fed Chairman Jerome Powell, Trump said the central bank was “raising interest rates too fast” but he had “confidence” that the Fed ...