President Trump Donald John TrumpBiden on Trump's refusal to commit to peaceful transfer of power: 'What country are we in?' Romney: 'Unthinkable and unacceptable' to not commit to peaceful transition of power Two Louisville police officers shot amid Breonna Taylor grand jury protests MORE on Monday slammed the Federal Reserve as U.S. markets extended their losses, comparing the central bank to a "powerful golfer" who "can't putt."

"The only problem our economy has is the Fed," Trump tweeted. "They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders.

"The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!"

The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt! — Donald J. Trump (@realDonaldTrump) December 24, 2018

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Trump's latest attack against the Federal Reserve came as the Dow Jones Industrial Average fell more than 400 points.

The latest drop came after Treasury Secretary Steven Mnuchin on Sunday tried to reassure the markets by making phone calls to the top officials at each of the six major banks: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.

He said that they had "ample liquidity," adding that he would convene a call with the president's working group on financial markets and a group of key regulators.

Trump, meanwhile, has repeatedly attacked the Federal Reserve, and there have been reports that he is looking to fire Federal Reserve Chairman Jerome Powell. The president disapproved of the Fed's decision earlier this month to raise interest rates for the fourth time in 2018

Mnuchin, however, said Saturday that Trump doesn't believe he has the ability to fire Powell.

"I have spoken with the President @realDonaldTrump and he said 'I totally disagree with Fed policy. I think the increasing of interest rates and the shrinking of the Fed portfolio is an absolute terrible thing to do at this time,' " Mnuchin tweeted.

" '[E]specially in light of my major trade negotiations which are ongoing, but I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so,' ” he added.