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Mnuchin says Fed is 'responsible' in raising interest rates

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AP Washington
Last Updated : Jul 29 2018 | 10:20 PM IST

Treasury Secretary Steven Mnuchin is insisting that President Donald Trump "absolutely" supports the independence of the Federal Reserve.

Mnuchin tells "Fox News Sunday" that Trump's recent statements questioning whether the central bank should increase interest rates are "just comments" indicating the "president has a concern."
Mnuchin says he believes it's responsible for the Fed to raise rates as the economy grows faster, and says the market expects rates "to keep going up."
The treasury chief adds: "We as an administration absolutely support the independence of the Fed, and the president has made it clear that this is the Fed's decision."

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First Published: Jul 29 2018 | 10:20 PM IST

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