Mnuchin: Trump not threatening Fed’s independence

Victor Caivano
Associated Press

Buenos Aires, Argentina – U.S. Treasury Secretary Steven Mnuchin says that Donald Trump was not trying to put pressure on the Federal Reserve when he criticized its decision to raise interest rates.

Speaking to reporters Saturday on the sidelines of a Group of 20 meeting in Buenos Aires, Argentina, Mnuchin said he can’t comment on why the U.S. president made the comments but he doesn’t think they were a mistake.

“I can assure because I’ve spoken to the president. His intention is not to in any way put pressure on the Fed,” the Treasury Secretary said, referring to the U.S. central bank.

On Friday, Trump for a second day criticized the Federal Reserve, breaking with a long-standing tradition at the White House of avoiding any influence, real or perceived, on the Fed’s independence.