US Treasury Sec. Mnuchin: First concern on coronavirus is protecting US economy


Share:

"A large team at the US Treasury is looking at coronavirus issues, coordinating internationally," Treasury Secretary Mnuchin said on Wednesday. "The Treasury is working with the IMF and the World Bank closely on coronavirus relief issues."

Mnuchin added that hundreds of billions of dollars could be put into the economy with deferred tax payments and explained that loan guarantees were a very effective way to aid companies without putting taxpayers at risk.

"The administration is addressing issues of large gathering sports event, the task force will be making recommendations," Mnuchin noted. "I want to emphasize that the country will get through this.Our first concern on coronavirus is protecting US economy"

Market reaction

These comments failed to help stock markets stage a rebound. As of writing, the Dow Jones Industrial Average was down 3.6% on the day and the Nasdaq Composite was erasing 2.8%.

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD heads for biggest daily gain in a month ahead of Powell Premium

EUR/USD heads for biggest daily gain in a month ahead of Powell

EUR/USD reached a peak at 1.0579, marking the highest level in two days, before pulling back towards 1.0550. Despite the retreat, the Euro is having its best performance in a month. Market attention is now shifting towards the upcoming speech by Fed Chair Powell.
 

EUR/USD News

GBP/USD consolidates gains near 1.2200

GBP/USD consolidates gains near 1.2200

GBP/USD extended its rebound and rose to 1.2224. Later it pulled back under 1.2200, but is still headed toward the biggest daily gain in more than a month. A correction of the US Dollar boosted the pair.

GBP/USD News

Gold extends slump to the $1,850 region Premium

Gold extends slump to the $1,850 region

Gold price extended its decline on Thursday to $1,857.66 a troy ounce, its lowest since early March. The US Dollar lost ground against most major rivals but surged vs the bright metal as the market mood slightly improved. European and American indexes traded with a better tone, helped by encouraging United States macroeconomic data.

Gold News

Coinbase receives regulatory approval to launch derivative trading for non-US customers

Coinbase receives regulatory approval to launch derivative trading for non-US customers

Coinbase is emerging as the biggest entity to defy the enforcement actions pursued by the Securities and Exchange Commission (SEC) after successfully launching its International exchange in Bermuda in Q2 this year.

Read more

Germany’s economic health check shows further signs of weakness

Germany’s economic health check shows further signs of weakness

The debate over whether Germany is emerging as the 'sick man of Europe' again has picked up steam once again over the summer. In our view, the answer is a resounding "yes”.

Read more

Forex MAJORS

Cryptocurrencies

Signatures