US Treasury secretary Steven Mnuchin comments to CNBC
- Markets are correcting and correction is natural
- Sees normalisation in the yield curve
- Also says that he sees a lot of demand for US debt
- Says that Trump has made himself clear that he likes low interest rates
- Trump respects the independence of the Fed
- Powell is doing a good job, understands the regulatory environment
- Says he had a constructive discussion with China on exchange rate
Mnuchin has been going on about this for the past two days now. Not a very colourful person, is he not? There isn't much that we haven't already heard before and his previous comments on the day and yesterday can be found here.
