Trump Says Now Is The Right To Buy Stocks

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Hassett has made multiple public appearances in recent days, attempting to assuage markets amid growing concerns about Trump's reported displeasure with Mnuchin, who has served in the president's Cabinet since February 2017, and Powell, who oversaw a hike in interest rates last week.

United States President Donald Trump expressed confidence in the Treasury Secretary, Federal Reserve and USA economy on Tuesday, moving to calm financial markets further roiled after Bloomberg News reported that the President had discussed firing the central bank's chairman over raising interest rates.

According to news reports, in recent weeks, the USA shares have fallen down sharply over the concerns on slowing economic growth including the S&P 500 index on a track for its huge percentage decline since the great depression in December.

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"We've all been doing that really quite a bit over the few weeks".

The source said Mnuchin is "under the gun", though Trump said Tuesday that he remains confident in Mnuchin and a White House source told CNN that speculation about the treasury secretary's future was "nonsense".

The S&P 500 stock index tumbled 2.7 per cent on Monday in its worst trading session before the Christmas holiday. He tweeted that he had spoken with the heads of the nation's six largest banks and was assured that they had sufficient lending capacity.

Trump has discussed firing Fed chairman Powell
The Fed is expected to raise rates for the fourth time this year when its two-day policy meeting ends at 2 p.m. ET, but the focus will be on whether it will still hint at three increases next year as it did in September.

Adding to jitters, Trump's acting chief of staff, Mick Mulvaney, on Sunday said a partial USA government shutdown could continue to january 3, when the new Congress convenes and Democrats take control of the House of Representatives. "I think it's a tremendous opportunity to buy". On concern of a weaker economic growth and Federal Reserve's much disputed rate hike, the U.S. stocks had dropped sharply and the S&P 500 plunge gathered pace. -China trade dispute and interest rate hikes - has put the S&P 500 .SPX on pace for its biggest monthly percentage decline since 2008. "I've met with them together in the Oval (Office) many, many times and they have a very collegial and productive working relationship".

Mnuchin attempted to brush those reports aside in a pair of tweets Saturday, quoting Trump as saying he "never suggested" firing Powell.

Mnuchin then spoke with the heads of major U.S. banks on Sunday and issued a statement that evening saying the banks had "ample liquidity". Last month, Fed chair Jerome Powell said in a speech that the financial system was stable.

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"They don't have a feel for the market, they don't understand necessary trade wars or strong dollars or even Democrat shutdowns over borders".