Steven Mnuchin: Markets Should Be Comfortable

Steven Mnuchin: Markets Should Be Comfortable US Treasury Secretary Steven Mnuchin said, "The markets should be comfortable ..." in his comment on the return of unused funds. US Treasury Secretary Steven Mnuchin made an assessment regarding the request to return unused coronavirus funds to the treasury. Recently, the US Treasury Department requested the return of an unused fund of 455 billion dollars from the US Federal Reserve (FED). Minister Mnuchin also made a new statement after Fed President Jerome Powell informed Mnuchin that the necessary actions would be taken to return the funds. Underlining that the decision is not a political issue, Mnuchin stated that there are plenty of resources to raise funds when needed. Minister Mnuchin recalled that there are over $ 800 billion in funds. Mnuchin said that there is no need to buy more corporate bonds, and that people can borrow large amounts of money from the markets. Mnuchin said he had good relations with FED Chairman Jerome Powell despite the disagreement reflected in the markets and explained that he understood Powell's opinion on this issue. Underlining that financial markets should not be worried, Minister Mnuchin said, "The markets can be very comfortable, we have plenty of remaining capacity." In addition, Steven Mnuchin announced that they will be working with Democrats in the coming weeks on a new economic support package against the economic impacts of the coronavirus outbreak.       This article has been prepared with the contributions of Bloomberg HT.