Fox Business Network host Charles Payne thought White House economic adviser Kevin Hassett was dodging his questions about the market’s recent plunge.
Payne made his annoyance abundantly clear. (Mediaite)
Pinch-hitting in the big chair on Varney & Co. Wednesday, Payne grew frustrated after Hassett tried to spin Treasury Secretary Steve Mnuchin‘s calls to the CEOs of major banks as “extremely normal.”
“He tried to calm the markets,” Payne said. “He had the call with these banks. It didn’t work. The markets collapsed on Monday. I don’t know what’s going on right now, we’re losing all of the rally, and big name dragging us on the Dow once again is Goldman Sachs. Should we be worried that Steven Mnuchin had to make this call? Was it a mistake?”
“It’s very normal for the Treasury Secrtary to call people up,” Hassett said. “and say, ‘How is Christmas looking?’ They’ve got credit card data.”
But Payne wasn’t buying it.
“But to [call them and] say, ‘Hey, do you guys have enough cash for a run on the banks?!” Payne said. “Was that the question?!”
Payne drove his point further, “Let’s be honest. The psychology…to make this a couple days from Christmas on a Sunday, it felt like a sense of panic.”