News World ‘I’m all alone’: Donald Trump rants from inside White House

‘I’m all alone’: Donald Trump rants from inside White House

donald trump attacks enemies while alone in the White House
The President again blamed the Federal Reserve for the wild turbulence on markets. Photo: Getty
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President Donald Trump has lamented his loneliness this Christmas, while ranting at his enemies from inside the White House.

The President tweeted “I’m all alone (poor me) in the White House”, as he unloaded on the Democrats’ refusal to agree to a deal to fund the Mexico border wall, and blasted the Federal Reserve, as stock markets plunged again on Monday.

Mr Trump described the Fed as as the “only problem” for the US economy, as top officials discussed a rout in stock markets which was partly caused by the President’s feud with the central bank.

Stocks on Wall Street fell again at the open on Monday amid concern about slowing economic growth, the government shutdown and reports that Mr Trump had discussed firing Federal Reserve chairman Jerome Powell.

Around 5.30pm on Christmas Eve (US time), Mr Trump was still firing off tweets.

US stocks have dropped sharply in recent weeks on concerns over weaker economic growth, with the S&P 500 index on pace for its biggest percentage decline in December since the Great Depression.

In a tweet that did nothing to ease market concerns about the Fed’s cherished independence, Mr Trump blamed the nation’s economic headwinds firmly on the central bank.

“The only problem our economy has is the Fed. They don’t have a feel for the market,” he tweeted.

“The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”

Mr Trump has frequently criticised the Fed’s raising of interest rates this year.

The Trump administration arranged a phone call on Monday with top US regulators to discuss financial markets, the Treasury Department said.

Donald Trump spends christmas eve alone in the White House
“Christmas Eve briefing with my team working on North Korea.” Photo: Twitter/@realdonaldtrump

Treasury Secretary Steven Mnuchin was to host the call with the President’s Working Group on Financial Markets, known colloquially as the “Plunge Protection team”.

Bloomberg News said regulators told Mr Mnuchin on the call that nothing is out of the ordinary in the markets.

Mr Mnuchin also made calls to top US bankers on Sunday and got reassurances that banks were still able to make loans, the Treasury said.

If Mr Mnuchin’s efforts to poll the top banks on their financial health and convene a call of a group of officials who typically meet to address a crisis was meant to soothe markets, that was not evident early on Monday.

Wall Street initially traded sharply lower in a shortened session ahead of Tuesday’s Christmas holiday.

Wall Street is closely following reports that Mr Trump has privately discussed the possibility of firing Mr Powell. Mr Mnuchin said on Saturday that Mr Trump told him he had “never suggested firing” Mr Powell.

Markets are also concerned about a partial government shutdown that began on Saturday following an impasse in congress over Mr Trump’s demand for more funds for a wall on the border with Mexico.

Defense Secretary Jim Mattis’ resignation on Thursday after Mr Trump’s surprise decision to pull US troops out of Syria also unsettled investors.

A statement by Mr Mnuchin on Sunday about his conversation with the banks and plans to convene the so-called Plunge Protection team “was not especially comforting, however, given that investors had not generally been questioning market functioning in recent days, despite large declines”, Nick Bennenbroek, currency strategist at Wells Fargo in New York, wrote in a note to clients.

-with AAP