Budget director Mick Mulvaney testifies before the Senate Budget Committee on Capitol Hill in Washington, Feb. 13, 2018. The Trump administration is pushing a “bold new approach to nutrition assistance" — replacing the traditional cash on a card that
Budget director Mick Mulvaney testifies before the Senate Budget Committee on Capitol Hill in Washington, Feb. 13, 2018. The Trump administration is pushing a “bold new approach to nutrition assistance" — replacing the traditional cash on a card that

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."
 

FILE - Federal Reserve Chairman Jerome Powell addresses the Federal Reserve Board's 15th annual College Fed Challenge Finals in Washington, Nov. 29, 2018.
Trump Reportedly Discussed Firing Fed Chairman Powell
U.S. President Donald Trump has reportedly discussed firing Federal Reserve Chairman Jerome Powell.The reports of Trump’s questions about whether he has the authority to fire Powell raised concern among members of Congress, economists and Wall Street executives, leading Treasury Sectary Steven Mnuchin to tweet a statement from the president late Saturday.(1/2) I have spoken with the President @realDonaldTrump and he said “I totally disagree with Fed policy.

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 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."