News channel CNBC will interview US Treasury Secretary Steve Mnuchin at 1200h GMT on Thursday.
What do markets expect?
Market participants mainly expect Mnuchin to shed more light on the ‘phenomenal’ tax reform announced by President Donald Trump and its probable timing (likely within the next 2-3 weeks), as well as its current progress in Congress.
Other relevant topics investors would like Mnuchin to address today include trade issues (including China, Japan, Mexico, NAFTA), banking regulation, debt ceiling and the likeliness of an issuance of a 50-year/100-year Treasury bond.
Who is Steve Mnuchin
After he graduated from Yale University in 1985, Mnuchin worked for investment bank Goldman Sachs for 17 years, eventually becoming its Chief Information Officer. After he left Goldman Sachs in 2002, he worked for and founded several hedge funds. During the financial crisis of 2007–2008, Mnuchin bought failed residential lender IndyMac. He changed the name to OneWest Bank and rebuilt the bank, then sold it to CIT Group in 2015. Mnuchin joined Trump's presidential campaign in 2016 and was named national finance chairman for the campaign. On February 13, 2017, Mnuchin was confirmed by a 53–47 vote in the U.S. Senate
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