Trump denies he’s unhappy with treasury secretary amid volatile stock market

Treasury Secretary Steve Mnuchin, left, listens as President Donald Trump speaks during an expanded bilateral meeting with the Emir of Kuwait Sheikh Sabah Al Ahmad Al Sabah in the Cabinet Room of the White House, Wednesday, Sept. 5, 2018, in Washington. AP Photo/Evan Vucci

U.S. President Donald Trump said on Twitter on Friday that he was quite happy with Treasury Secretary Steven Mnuchin‘s performance, after The Wall Street Journal reported that the president was dissatisfied with Mnuchin.

I am extremely happy and proud of the job being done by @USTreasury Secretary @stevenmnuchin1,” Trump said in a tweet.

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The Journal reported that Trump blames Mnuchin for the appointment of Federal Reserve Chairman Jerome Powell, who has been steadily raising U.S. interest rates.

Trump is concerned that higher rates could undercut economic gains ahead of his 2020 re-election bid, the newspaper reported.

READ MORE: Why the stock market is down — and how to turn losses into a bonus

Quoting unnamed sources, the Journal said Trump has also expressed displeasure with Mnuchin over stock market turbulence and the Treasury secretary’s skepticism about the White House trade actions against China.

Aides suggested in the story that Trump looks at the stock market as an indicator of his presidential success, with an importance equal to his approval ratings.

“The FAKE NEWS likes to write stories to the contrary, quoting phony sources or jealous people, but they aren’t true. They never like to ask me for a quote b/c it would kill their story,” Trump said on Twitter

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