Treasury Secretary Steven Mnuchin praised Fed Chairman Jerome Powell on Tuesday – just days after President Donald Trump said he was not “thrilled” with the Federal Reserve raising interest rates.
And asked if the Fed should be “independent,” Trump replied: “I believe in the Fed doing what’s good for the country.”
Speaking on CNBC’s “Squawk Box,” Mnuchin said on Tuesday: “Well, I think, as you know, as treasury secretary, I respect the independence of the Fed. I meet with Jay Powell on a weekly basis we talk about a lot of economic issues it would be inappropriate for me to comment on interest rates in that position.
“But what I would say is I think Jay has been a phenomenal leader at the Fed. I think he understands the issue of growth and he’s carefully monitoring the growth numbers and the inflation numbers and we’ll see. ”
Read on The Source