U.S. President Donald Trump's frustration with Treasury Secretary Steven Mnuchin is rising after markets suffered their worst Christmas Eve drop ever despite Mnuchin's attempts to calm Wall Street, according to a source close to the White House.
According to the source, Mnuchin could be in "serious jeopardy" with Trump, who regularly rages at Cabinet members he feels have made mistakes, before he cools off.
Trump nevertheless vouched for Mnuchin publicly, shifting blame for the market volatility to the Federal Reserve instead. "Yes, I do," Trump said when asked whether he had confidence in Mnuchin. "Very talented, very smart person."
But the source painted a different picture of Mnuchin's standing behind the scenes. "Mnuchin is under the gun," CNN cited the source as saying.
