US Treasury Sec. Mnuchin: Can't shut down economy again, this will cause more damage

Eren Sengezer FXStreet

Over the next month, another $1 trillion will be pumped into the US economy, US Treasury Secretary Steven Mnuchin told CNBC on Thursday.

"We can't shut down the economy again, this will cause more damage," Mnuchin argued. "Further aid to states will be subject to discussion with Congress."

Market reaction

These comments failed to help market sentiment improve. As of writing, the Dow Jones Industrial Average and the S&P 500 were both down around 2.5% and the Nasdaq Composite was losing nearly 2%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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