US Treasury Sec Mnuchin: Trump respects Fed's independence; likes low interest rates
|US Treasury Secretary Steven Mnuchin, speaking to CNBC this Friday, was noted saying that the US US economic fundamentals are strong and the recent market correction is natural.
Key quotes:
• Sees normalization in the yield curve.
• Also says that still there is a lot of demand for the US debt.
• Trump respects Fed's independence but was clear that he likes low-interest rates.
• Powell is doing a good job, understands the regulatory environment.
• Says he had a constructive discussion with China on the exchange rate.
• Trump will have a meeting with China’s President Xi at G20.
• No specific deadline for China trade talks.
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