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Trump aide: White House, central bank tension not unusual

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WASHINGTON (AP) — A White House official says tension between a president and the interest-rate setting Federal Reserve is “traditional as part of our system.”

Acting chief of staff Mick Mulvaney says it should come as no surprise that President Donald Trump is unhappy the central bank, an independent agency, “is raising rates and we think driving down the value of the stock market.”

Speculation about the fate of Trump’s appointed Fed chairman, Jerome Powell, has swirled after Bloomberg News reported that Trump discussed firing Powell after this past week’s rate increase.

Treasury Secretary Steven Mnuchin (mih-NOO’-shin) tweeted Saturday that Trump has denied ever suggesting that and doesn’t believe he has the right to dismiss Powell.

Mulvaney also tells ABC’s “This Week” that the economy’s “fundamentals are still strong.’

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

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The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
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