Donald Trump blasts Federal Reserve as stocks fall again

Trump is displayed on a computer Monday on the floor of the New York S

Trump is displayed on a computer Monday on the floor of the New York S

Top US regulators - including Fed policymakers and the SEC - on the call told Mnuchin that nothing is out of the ordinary with markets, Bloomberg reported. Stoking those concerns are rising interest rates, the U.S.

Despite the recent stock slump, U.S. economic data remains fairly strong.

'The CEOs confirmed that they have ample liquidity available for lending, ' the Treasury said.

A digest of the top political stories from the Globe, sent to your inbox Monday-Friday. Mnuchin wrote that Trump told him he "totally" disagrees with Fed policy, calling it "an absolute awful thing to do at this time".

The year started with President Donald Trump promising big growth for stocks. Yet much of the gains in equities since his election have been been erased by months of turmoil, as investors grow increasingly concerned about the impact of the administration's trade battles with China and Europe.

The index was down 2.71 percent at 2,351.10 at the close Monday - a 20.06-percent fall from the September 21 intraday high of 2,940.91. The readout might be a further effort to keep Trump calm by showing him that everything is fine and his Treasury is taking action.

The publication said a request for comment from the Treasury Department was referred to the White House, which didn't respond.

In a sign Trump may have lost some faith in Mnuchin, the president has asked whether one or more of his advisers could meet with Powell, according to a person familiar with the matter.

Mnuchin Tries to Soothe Investor Worries...

... Traders have also fretted over the U.S.

Despite the government being partially shutdown, Mnuchin left - as planned - for a holiday vacation in Cabo San Lucas.

On Saturday Mnuchin tweeted that the president told him he never suggested firing Powell.

CapitalistPig Hedge Fund Manager Jonathan Hoenig on the impact of President Trump's criticisms of the Federal Reserve on an already hard year for the markets.

Option one: The Treasury secretary was speaking to an audience of one.

Still, just the public suggestion that Trump might try to interfere so deeply with the Fed was unsettling to financial markets that have long operated on the presumption of the U.S. central bank's independence from political meddling.

Unlike others Trump has cut loose, the president goes way back with Mnuchin, 56, a former Goldman Sachs Group Inc. partner and movie financier who served as Trump's chief campaign fund-raiser. Investors also were grappling with a federal government shutdown and reports that Trump privately discussed the possibility of firing the Federal Reserve chairman.

Monday's sell-off in NY was a continuation of the negative momentum from last week when both the Dow and Nasdaq suffered their biggest weekly losses since the financial crisis in late 2008. He cited five-year-old restrictions on banks using their own capital to make speculative market bets, known as the Volcker Rule.

Mnuchin spoke on Sunday with the heads of the six largest United States banks, who confirmed they have enough liquidity to continue lending and that "the markets continue to function properly".

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