Treasury Secretary Steven Mnuchin confirmed in a statement that he spent much of Sunday speaking to bank executives about liquidity in the market, which followed a CNN report that he reassured them Trump doesn't plan on firing Fed chair Jerome Powell.
Today I convened individual calls with the CEOs of the nation's six largest banks. See attached statement. pic.twitter.com/YzuSamMyeT
— Steven Mnuchin (@stevenmnuchin1) December 23, 2018
Why it matters: It's unclear Trump would have the legal authority to take such action. Such a move would also undermine international faith in the Fed.
