A high-ranking Trump administration official reportedly reached out to at least one well known investor for advice on markets amid the recent stock plunge.
The unidentified investor was said to tell the official to tell the president to end his criticism of Federal Reserve Chairman Jerome Powell on Twitter, stop administration turnover and reach a trade deal with China in order to help markets, sources told CNBC.
The administration, which has judged Trump's success in part on stock market performance, is "determined" to boost equities, the sources said.
The call took place after a selloff on Christmas Eve, the worst day of Dec. 24 trading ever.
Trump blasted the Fed on Monday, describing it as the "only problem" for the U.S. economy, as top officials discussed a rout in stock markets caused in part by the president's attacks on the central bank.
In a tweet that did nothing to ease market concerns about the Fed's cherished independence, Trump laid the blame for economic headwinds firmly at the feet of the central bank, Reuters reported.
"The only problem our economy has is the Fed. They don't have a feel for the market," Trump said on Twitter. "The Fed is like a powerful golfer who can't score because he has no touch - he can't putt!"
Trump has gone after Powell several times now, telling Reuters in August he was "not thrilled" with his own appointee and said the Fed should do more to help him boost the economy.
On Christmas Day, Trump expressed confidence in the Fed and Powell, following reports that he’s discussed firing the central bank chief -- though the president complained again that interest rates have been rising too quickly, Bloomberg explained.
Asked about Powell, Trump told reporters at the White House on Tuesday: “They’re raising interest rates too fast. That’s my opinion. I certainly have confidence. I think it will straighten. They’re raising interest rates too fast because they think the economy is so good. But I think that they will get it pretty soon. I mean, the fact is that the economy is doing so well that they raised interest rates and that is a form of safety.”
Trump also said he has “great confidence in them” after discussing the Fed, though it wasn’t clear if he was referring to the central bank.
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