Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Jerome Powell. Photo: Mark Wilson/Getty Images
In a pair of Saturday evening tweets, Treasury Secretary Steven Mnuchin denied an earlier Bloomberg report that President Trump has spoken privately about firing Federal Reserve Chairman Jerome Powell following the Fed's decision to hike interest rates for the fourth time during his tenure.
What he's saying: Mnuchin tweeted a quote that he attributed to Trump on Saturday night, saying, "I totally disagree with Fed policy. I think the increasing of interest rates and the shrinking of the Fed portfolio is an absolute terrible thing to do at this time, especially in light of my major trade negotiations which are ongoing, but I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so."
The big picture: Many administration officials that the president has privately mused about firing have ended up being pushed out later down the line. Firing Powell could have "potentially devastating ripple effects across financial markets," according to Bloomberg, and would challenge the belief that the Fed acts independently of political influence. But as Axios' Courtenay Brown reports, "[n]o other Fed chairman has faced a challenge like the one Powell is facing."
Go deeper: Why the Fed was right to hike