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Treasury Secretary Steven Mnuchin praised Fed Chair Jerome Powell in an interview with CNBC: “I think he understands the issue of growth and he's carefully monitoring the growth numbers and the inflation numbers.”

Why it matters: Mnuchin’s comments contrast with those of President Trump, who said last week he was not “thrilled” with Powell and criticized the Fed for raising interest rates.

The full exchange:

Do you think we're already at neutral and would you persuade Chairman Powell not to raise rates anymore? Do you agree with the President in that respect?

Mnuchin:

"I think as you know, as Treasury Secretary, I respect the independence of the Fed. I meet with Jay Powell on a weekly basis. We talk about a lot of economic issues. It would be inappropriate for me to comment on interest rates in that position. But what I would say is I think Jay [Powell] has been a phenomenal leader at the Fed. I think he understands the issue of growth and he's carefully monitoring the growth numbers and the inflation numbers and we'll see. I, for one, am not at all concerned about the yield curve. I don't think that's a predictor of economic growth. I think it's a market condition. And for now, having a flat yield curve with us issuing long-term debt is something we're perfectly content with."

Go deeper

State Department to set up new cyber bureau to combat hack attacks

Secretary of State Tony Blinken speaks on the challenges during an October conference in Quito, Ecuador. Photo:y Felipe Stanley/Agencia Press South/Getty Images

Secretary of State Tony Blinken announced Monday plans for the State Department to create a new bureau of cyberspace and digital policy.

Why it matters: The establishment of the bureau and plans for a new envoy to oversee critical and emerging technology come after a series significant hack attacks and other online crimes, notably ransomware assaults on U.S. infrastructure.

Biden rejects Trump's latest executive privilege claims

Photo: Jim Watson and Saul Loeb/AFP via Getty Images

The White House on Monday rejected two more of former President Trump's claims of executive privilege over documents that the House select committee investigating the Jan. 6 Capitol riot requested, CNN first reported.

Why it matters: Trump's legal team is seeking to block some of the panel's requests for records by invoking executive privilege, which can allow presidents and their aides to sidestep congressional scrutiny. The Biden administration has maintained that it will evaluate on a case-by-case basis.

Amazon warehouse workers in New York file petition to hold unionization vote

Amazon workers and their supporters rally outside the National Labor Relations Board's regional office in Brooklyn, New York City, after filing a petition requesting an election to form a union. Photo: Gabby Jones/Bloomberg via Getty Images

Amazon warehouse workers in New York City filed a petition on Monday with the National Labor Relations Board (NLRB) to hold a vote on unionization.

Why it matters: The move comes six months after an organizing effort was defeated at Amazon's distribution center in Alabama.