Los Angeles Times

Mnuchin's attempt to calm markets backfires as Trump takes another shot at the Federal Reserve

WASHINGTON - An attempt by Treasury Secretary Steven T. Mnuchin to calm plunging financial markets backfired Monday, further rattling investors with new fears about whether major U.S. banks have enough cash on top of worries about interest rates, political instability in Washington and a slowing global economy.

Adding to the volatile mix was a fresh attack on the Federal Reserve by President Trump, who declared that the central bank was the U.S. economy's "only problem" and that it didn't "have a feel for the market."

"The Fed is like a powerful golfer who can't score because he has no touch -

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