Latest Steven Mnuchin News

FILE - In this May 22, 2020, file photo the Dome of the U.S. Capitol Building is visible through heavy fog in Washington. New virus relief will have to wait until after the November election. Congress is past the point at which it can deliver more coronavirus aid soon, with differences between House Speaker Nancy Pelosi, Senate Republicans and President Donald Trump proving insurmountable. (AP Photo/Andrew Harnik, File)

Deadline looms, but COVID relief deal may be far off

Oct. 20, 2020 1:31 AM EDT

WASHINGTON (AP) — House Speaker Nancy Pelosi reported some progress in advance of a Tuesday deadline for reaching a pre-election deal with President Donald Trump on a new coronavirus relief package, but the same core problems bedeviling the effort remain in place despite optimistic talk from the president...

People stand near a bank's electronic board showing the Hong Kong share index Tuesday, Oct. 20, 2020. Asian shares fell moderately Tuesday, echoing Wall Street's decline as hopes faded Washington will come through with badly needed aid for the economy before the U.S. presidential election.   (AP Photo/Vincent Yu)

Asian shares track Wall Street fall as virus aid hopes fade

Oct. 19, 2020 11:55 PM EDT

TOKYO (AP) — Asian shares fell moderately Tuesday, tracking Wall Street's overnight decline as hopes faded Washington will come through with badly needed aid for the U.S. economy before the U.S. presidential election. Investors have been focusing on U.S. economic stimulus amid global uncertainty about the...

FILE - In this May 22, 2020, file photo the Dome of the U.S. Capitol Building is visible through heavy fog in Washington. New virus relief will have to wait until after the November election. Congress is past the point at which it can deliver more coronavirus aid soon, with differences between House Speaker Nancy Pelosi, Senate Republicans and President Donald Trump proving insurmountable. (AP Photo/Andrew Harnik, File)

Deadline looms, but COVID relief deal may be far off

Oct. 19, 2020 8:53 PM EDT

WASHINGTON (AP) — House Speaker Nancy Pelosi reported some progress in advance of a Tuesday deadline for reaching a pre-election deal with President Donald Trump on a new coronavirus relief package, but the same core problems bedeviling the effort remain in place despite optimistic talk from the president...

FILE - In this Monday, Aug. 31, 2020, file photo, an official stands at the door of an Israeli El Al airliner after it landed in Abu Dhabi, United Arab Emirates. The first commercial passenger flight to Israel by a carrier from the United Arab Emirates landed near Tel Aviv on Monday, Oct. 19, 2020, further cementing a normalization deal between the two countries. (Nir Elias/Pool Photo via AP, File)

First commercial passenger flight from UAE lands in Israel

Oct. 19, 2020 11:53 AM EDT

TEL AVIV, Israel (AP) — The first commercial passenger flight to Israel by a carrier from the United Arab Emirates landed near Tel Aviv on Monday, further cementing a normalization deal between the two countries. Etihad Airways Flight No. 9607 landed at Israel's Ben-Gurion international airport just after...

The national flags of Bahrain, Israel and America, flutter in near the Israeli flag carrier El Al plane that will fly an Israeli delegation, accompanied by U.S. aides, to Bahrain to formalise relations and broaden Gulf cooperation, at Ben Gurion airport in Lod, near Tel Aviv, Israel Sunday, Oct. 18, 2020. (Ronen Zvulun/Pool Photo via AP)

Israel, Bahrain sign deal establishing formal ties

Oct. 18, 2020 3:14 PM EDT

JERUSALEM (AP) — Israel and Bahrain on Sunday agreed to establish formal diplomatic relations, making the small Gulf country the fourth Arab state to normalize ties with Israel. The U.S.-brokered agreement capped a one-day visit by a high-level delegation of American and Israeli officials to Bahrain....

FILE - In this Sept. 1, 2020 file photo, Treasury Secretary Steven Mnuchin testifies before the House Select Subcommittee on the Coronavirus Crisis, during a hybrid hearing on Capitol Hill in Washington. The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic shrank revenues and sent spending soaring. The Trump administration reported Friday, Oct. 16,  that the deficit for the budget year that ended on Sept. 30 was three times the size of last year's deficit of $984 billion. (Graeme Jennings/Pool via AP, File)

Awash in red ink: US posts record $3.1T 2020 budget deficit

Oct. 16, 2020 3:19 PM EDT

WASHINGTON (AP) — The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic shrank revenues and sent spending soaring. The Trump administration reported Friday that the deficit for the budget year that ended...

A man stands near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Oct. 16, 2020. Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. (AP Photo/Eugene Hoshiko)

Asian shares mixed amid 2nd wave coronavirus, election fears

Oct. 15, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. Investors are also looking ahead to the release of data on the Chinese economy next week. Shares rose in...

FILE - In this June 17, 2020, file photo, people wearing masks to curb the spread of the new coronavirus wait in a line for a free meal at the Villa Maria del Triunfo district in Lima, Peru. The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. (AP Photo/Rodrigo Abd, FIle)

IMF warns global economy could be permanently scarred

Oct. 15, 2020 1:29 PM EDT

WASHINGTON (AP) — The global economy's recovery from the pandemic recession is tentative and uneven and “marked by significant uncertainty” as confirmed coronavirus cases spread in many countries, international finance ministers warned Thursday. The policy-setting panel of the 189-nation...

FILE - In this Wednesday, Sept. 2, 2020, file photo, passers-by walk past a business storefront with store closing and sale signs in Dedham, Mass. U.S. employers advertised for slightly fewer jobs in August while their hiring ticked up modestly. The Labor Department said Tuesday, Oct. 6, 2020,  that the number of U.S. job postings on the last day of August dipped to 6.49 million, down from 6.70 million July. (AP Photo/Steven Senne, File)

US jobless claims rise to 898,000 with layoffs still high

Oct. 15, 2020 10:41 AM EDT

WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose last week by the most in two months, to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession. Thursday’s report from the Labor...

FILE - In this Friday, Oct. 2, 2020 file photo, pedestrians pass the New York Stock Exchange,  in New York.  Stocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14,  as investors pore over another batch of earnings reports from big U.S. companies. The S&P 500 added 0.3% in early trading Wednesday. A loss in the index a day earlier broke a four-day winning streak.  (AP Photo/John Minchillo, File)

Asian stocks follow Wall St lower as stimulus hopes fade

Oct. 15, 2020 12:07 AM EDT

Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. Benchmarks in Shanghai, Tokyo and Hong Kong declined. Sydney advanced. In Seoul, the company that manages boy band BTS made its market debut amid criticism...