US Treasury Secretary Sec Mnuchin: We are facing a specific issue and not like the financial crisis


Speaking on CNBC, thanking the Senate for their swift action, for which he and Trump are could not be more pleased with the absolute unanimous support on a bipartisan basis to get this done, US Treasury Secretary Sec Mnuchin warned: "we are facing a specific issue and not like the financial crisis."

Key notes

  • We will be determined to get money in the pockets within the next three weeks.
  • Spoken with Pelosi and Mccarthy today about stimulus.
  • Expects House to take up the stimulus bill tomorrow.
  • Jobless claims numbers are 'not relevant right now'.
  • Says again, in ‘best interest’ to keep markets open and;
  • Could consider limiting trading hours, ‘says it is ‘not his preference’.

FX implications

The markets are trading on stimulus updats and ignoring data such as today's shocker in the jobless claims, which was well telegraphed. 

 

 

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