--- title: Trump Fully Supports Federal Reserve, Mnuchin Says description: Treasury Secretary Steven Mnuchin told reporters that President Donald Trump fully supports the independence of the Federal Reserve. canonical: https://time.com/5344964/trump-federal-reserve-mnuchin/ author: TIME article:opinion: false article:content_tier: free article:published_time: 2018-07-21T13:21:15.000Z article:modified_time: 2026-02-23T20:54:58.190Z article:section: Politics og:title: President Trump Fully Supports Federal Reserve, Treasury Secretary Mnuchin Says og:description: Mnuchin said Trump isn't trying to interfere in the foreign-exchange market og:url: https://time.com/5344964/trump-federal-reserve-mnuchin/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltb6cc2c44ac75f0a4/698935e9e76ad20a9e6328e0/mnuchin-trump-federal-reserve.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: Mnuchin-Trump-federal-reserve og:type: article twitter:card: summary_large_image twitter:title: President Trump Fully Supports Federal Reserve, Treasury Secretary Mnuchin Says twitter:description: Mnuchin said Trump isn't trying to interfere in the foreign-exchange market twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltb6cc2c44ac75f0a4/698935e9e76ad20a9e6328e0/mnuchin-trump-federal-reserve.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  # President Trump Fully Supports Federal Reserve, Treasury Secretary Mnuchin Says by [Saleha Mohsin / Bloomberg](https://time.com/author/bloomberg/) ## Saleha Mohsin / Bloomberg Jul 21, 2018 1:21 PM UTC  U.S. Treasury Secretary Steven Mnuchin testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill in Washington, DC July 12, 2018. U.S. Treasury Secretary Steven Mnuchin testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill in Washington, DC July 12, 2018.Chip Somodevilla/Getty Images by [Saleha Mohsin / Bloomberg](https://time.com/author/bloomberg/) ## Saleha Mohsin / Bloomberg Jul 21, 2018 1:21 PM UTC (Bloomberg) — U.S. President Donald Trump fully supports the independence of the Federal Reserve and isn’t trying to interfere in the foreign-exchange market, Treasury Secretary Steven Mnuchin told reporters in Buenos Aires. Speaking on the sidelines of the Group of 20 nations summit, Mnuchin tried to assuage investor concerns that a currency war was looming. In a series of tweets on Friday, Trump lashed out at China and the European Union for their weak currencies and said a stronger dollar and rising U.S. interest rates are undermining America’s “competitive edge.” Trump is a real-estate businessman and, as such, closely follows interest rates, Mnuchin told reporters. His comments weren’t intended to jeopardize the Fed’s independence, the secretary added. While most analysts said Trump’s comments wouldn’t influence the Fed, some raised concerns that any rate decision could now be seen by investors in a political context. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5344964/trump-federal-reserve-mnuchin/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5344964/trump-federal-reserve-mnuchin/"},"headline":"President Trump Fully Supports Federal Reserve, Treasury Secretary Mnuchin Says","datePublished":"2018-07-21T13:21:15.000Z","dateModified":"2026-02-23T20:54:58.190Z","description":"Mnuchin said Trump isn't trying to interfere in the foreign-exchange market","url":"https://time.com/5344964/trump-federal-reserve-mnuchin/","keywords":["White House","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltb6cc2c44ac75f0a4/698935e9e76ad20a9e6328e0/mnuchin-trump-federal-reserve.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Saleha Mohsin / Bloomberg"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltb6cc2c44ac75f0a4/698935e9e76ad20a9e6328e0/mnuchin-trump-federal-reserve.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Mnuchin-Trump-federal-reserve","caption":"Mnuchin answering questions","creditText":"Chip Somodevilla/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/white-house/","name":"White House"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/5344964/trump-federal-reserve-mnuchin/","name":"President Trump Fully Supports Federal Reserve, Treasury Secretary Mnuchin Says"}}]}] ```