Treasury Secretary Mnuchin says Trump 'supports' the Fed's independence

"I fully support the Fed's independence as does the president," Mnuchin told reporters Saturday at the start of the G20 meeting of finance ministers and central bank presidents in Buenos Aires. "The president has made it very clear to me that he supports the Fed's independence."

Trump broke with protocol this week by criticizing the Fed's planned interest rate hikes. He tweeted Friday that higher interest rates are taking away America's competitive edge with China. On Thursday, he complained that higher rates were undoing his administration's efforts to help the economy.