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Fox Biz Host Says Mnuchin Call To Banks 'Felt Like A Sense Of Panic'

Fox Business host Charles Payne did not succumb White House economic adviser Kevin Hassett's bogus excuses for Trump, pretending that Treasury Secretary Steve Mnuchin's Christmas call to the banks was perfectly normal.
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Fox Business host Charles Payne did not succumb White House economic adviser Kevin Hassett's bogus excuses for Trump, pretending that Treasury Secretary Steve Mnuchin's Christmas call to the banks was perfectly normal.

Trump's Treasury Secretary took a massive amount of heat after he called bank CEOs to discuss liquidity needs that rattled the entire stock market.

This is what happens when there are unprepared and unexperienced people running the U.S. Government.

White House economic adviser Kevin Hassett joined Payne, who was subbing for Stuart Varney and although the Fox Business host did attack the Federal Reserve, he did not cover for Mnuchin moronic telephone call.

“He had the call with these banks. It didn’t work," Payne said. "The markets collapsed on Monday."

He continued, "Should we be worried that Steven Mnuchin had to make this call? Was it a mistake because Treasury Secretary Baker did something very similar to this in 1987 and it didn't help and help create I think Black Monday."

Hassett replied that Mnuchin is in constant contact with the financial community, saying, "It's very normal for the Treasury Secretary to call people up and say hey how's Christmas looking?"

Payne jumped in, "But to say, ‘Hey, do you guys have enough cash on hand for a run on the banks? I mean, was that the question?!”

Hassett said he wasn't on the call. Whenever a Trump official says he wasn't part of a conversation you can take that as confirmation of what actually transpired.

Hassett went on to whine that he had doubts Mnuchin can calm the markets on any given day.

Payne came back, " I think the psychology there Kevin, let’s be honest. The psychology is that make this call a couple days from Christmas on a Sunday, it felt like a sense of panic.”

Panic, indeed. And the markets crashed.


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