President Donald Trump has lashed out at America’s central bank as a stock market whose gains he once took credit for continued a historic plunge.
In a tweet, Mr Trump said the Federal Reserve was “the only problem” of the American economy.
Mr Trump’s treasury secretary meanwhile scrambled to calm investors.
However, the Dow Jones fell more than 650 points on Monday, and is on track for its worst December since 1931 during the Great Depression.
The turmoil comes amid a partial government shutdown, US-China trade tensions and reports the president has discussed firing Fed chairman Jerome Powell.
Mr Trump continually boasted about Wall Street’s steep climb during the first year of his presidency, but has sought to deflect blame since markets hit a rough patch in 2018.
On Sunday US Treasury Secretary Steven Mnuchin took the unusual step of calling the chief executives of America’s six largest banks in a bid to soothe market jitters.
On Monday, he called top market regulators and officials from the US central bank to allay fears about the economy.
Mr Mnuchin hosted the call with the President’s Working Group on Financial Markets to “discuss co-ordination efforts to assure normal market operations”, according a treasury statement.
The board of governors of the US Federal Reserve System, the Securities and Exchange Commission and the Commodities Futures Trading Commission are on the working group.
– BBC
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