Dollar weakens on government shutdown concerns, plunging stocks

U.S. stocks have worst Christmas Eve ever

Trump: Mnuchin is a very smart person

Trump nominated Powell previous year to take over the Fed, but since interest rates began rising, Trump has upped his rhetoric against Powell.

Mr Trump's frustration with Mr Mnuchin is rising after his attempts to calm Wall Street failed, CNN reported, citing a source close to the White House, who said the Treasury Secretary could be in "serious jeopardy" with the President.

With stocks declining last week, Trump was reportedly considering firing Federal Reserve Chairman Jerome Powell, after the USA central bank voted Wednesday to increase rates. Speaking to reports at the Oval Office on Tuesday, he said the central bank is hiking rates because they think the economy is so good. All three major USA stock indexes ended down more than 2 percent on the day before the Christmas holiday.

President Donald Trump said Tuesday he remains confident in his treasury secretary, a day after markets tanked on fears about the Federal Reserve and a peculiar call between Treasury Secretary Steve Mnuchin and bank CEOs.

Trump says he has confidence in Mnuchin, calling him a "very talented guy" and a "very smart person".

"The headlines we are seeing today, yesterday, over the weekend are not great", said Vinay Pande, global head of trading strategies at UBS Global Wealth Management.

Bumrah career-best gives India control despite late collapse
If I say I don't believe in myself, who else will? They are trying their best, but it is just one of those things. The batsman tried an exaggerated onside flick, but ended up edging to slip as the ball exploded off the pitch.

A bruising December for the USA markets - triggered by concerns over a partial federal government shutdown, the U.S. The Standard & Poor's 500 index closed about 20% below its all-time high from late September, while the Nasdaq Composite closed 23% from its record peak. However, the Central Bank only two interest rate expected increases in the coming year, rather than three, as in September, indicated.

USA stocks have dropped sharply in recent weeks on concerns over weaker economic growth. "In the face of a large correction in the market, there seems to be disarray and disunity and people aren't speaking with one voice, which I think is discouraging to anybody in the market". The conversations confirmed that "ample liquidity is available for lending to consumer and business markets", he said.

Hassett said that the ongoing budget impasse in which swaths of the federal government are going without funding, due to Congress' refusal to authorize Trump's demand for more money on a US-Mexico border barrier, would not harm the economy.

Trump on Monday renewed his criticism of the Fed, however, tweeting that the central bank was the "only problem" for the US economy.

The call struck market observers as curious given that investors have expressed no concerns about the banks' financial condition.

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