'I do' have confidence Treasury Secretary Mnuchin

Jermaine Castillo
December 29, 2018

He added: "I am not anxious [about Trump] because I know we are always going to do our jobs as we have always done them".

Mnuchin then spoke with the heads of major USA banks on Sunday and issued a statement that evening saying the banks had "ample liquidity". Trump has, according to CNN, been complaining Mnuchin has not been doing enough, in general, to stabilize the markets and, more specifically, "Trump was particularly frustrated that a tentative trade deal with China on tariffs did not provide a boost in the markets - something Mnuchin and other advisers said would happen if an agreement was struck".

Trump defended Mnuchin, telling reporters on Tuesday that the Treasury chief is a "very talented, very smart person". The Nasdaq's bear market fall continues as well, sitting over 20 percent less than August's record highs.

The president - responsive reporters' queries at the White House once addressing members of the USA militia on a holy day of obligation video telephone call - aforementioned the Fed is raising borrowing prices as a result of the "economy is doing therefore well", adding that US corporations are having "record varieties of numbers" which it's a "tremendous chance to shop for". Asked Tuesday whether he also had confidence in Powell, Trump said the Fed is raising rates "because they think the economy is so good".

Regional Players Prepare for Imminent US Pullout from Syria
Turkey conducted a second offensive with Syrian rebels against the YPG in its northwestern enclave of Afrin in January this year. She said that Turkey's real aim was to "use this opportunity (US withdrawal) to crack down on the YPG".

But the comments were widely criticized by market watchers for raising new doubts, fears that were already brewing because of a partial U.S. government shutdown over Trump's battle with congressional Democrats to finance a wall on the border with Mexico. He had "great confidence" in the American company.

Investors have been anxious for months about the potential impact of the US-China trade conflict on the broader economy, which poses risks to the world's two biggest economies, which are highly interdependent.

"Treasury's readout is unusual, in our view, given that bank liquidity is not a risk or concern that has been raised by regulators, economists or analysts", analysts at Height Securities said in a note.

Mnuchin's call for a meeting with the CEOs of the banks came after the US government went partial shutdown on Saturday, following a deadlock in Congress over Trump's demand of funds for the construction of border wall between the US-Mexico. "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".

Indonesia re-routes flight as volcano alert level upgraded
Officials also said the danger level of the volcano, which triggered the tsunami, was increased as well. Pramesti, director general of Air Transport of Indonesian Transport Ministry.

Mnuchin tweeted Sunday that he had called the "CEOs of the nation's six largest banks" in a bid to calm any financial-industry jitters.

Mr Trump's Oval Office remarks contrasted with his tweet on Monday, saying: "The only problem our economy has is the Fed".

Trump has singled out his handpicked chairman of the Fed, Jerome Powell, for blame, insisting that the bank's interest rate hikes are responsible for the downturn.

Asked on Boxing Day if Fed chairman Jerome Powell's job was safe, economic advisor Kevin Hassett said to reporters: "Yes, of course, 100 per cent".

Militants attack Libya's foreign ministry in Tripoli
Islamic State had been forced to withdraw from the towns and cities it held in Libya to regroup in the south. Three attackers opened fire on the building before two of them managed to get inside and blow themselves up.

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