Latest Steven Mnuchin News

FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve will issue the first loans under its groundbreaking Main Street Lending program in a “few days,”  Powell said Friday, May 29.  (AP Photo/Jacquelyn Martin)

Powell: Fed to soon begin 'challenging' Main Street lending

May. 29, 2020 2:21 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...

Secretary of State Mike Pompeo speaks during a press briefing at the State Department on Wednesday, May 20, 2020, in Washington. (Nicholas Kamm/Pool Photo via AP)

US clamps down on waivers tied to Iran's nuclear cooperation

May. 27, 2020 4:12 PM EDT

WASHINGTON (AP) — The Trump administration announced Wednesday it is ending nearly all of the last vestiges of U.S. sanctions relief provided under the 2015 Iran nuclear deal. Secretary of State Mike Pompeo said he would revoke all but one of sanctions waivers covering civil nuclear cooperation. The...

In this May 20, 2020, file photo, House Speaker Nancy Pelosi of Calif., speaks during a news conference on Capitol Hill in Washington. Congress is at a crossroads in the Covid-19 crisis. Lawmakers are wrestling over whether to “go big” as Pelosi wants for the next relief bill or hit “pause” as Senate Majority Leader Mitch McConnell insists. (AP Photo/Manuel Balce Ceneta)

Deadlocked Congress shifts virus focus to small business aid

May. 26, 2020 6:31 PM EDT

WASHINGTON (AP) — Deadlocked over the next big coronavirus relief bill, Congress is shifting its attention to a more modest overhaul of small business aid in hopes of helping employers reopen shops and survive the pandemic. Bipartisan legislation that would give small employers more time to take advantage...

In this Nov. 25, 2019 file photo Federal Reserve Bank of Boston President Eric Rosengren, left, speaks during a round table discussion at Silver Lane Elementary School, in East Hartford, Conn.  (AP Photo/Steven Senne, file)

Regional Fed chief: Loan program could aid a slow recovery

May. 20, 2020 8:54 PM EDT

WASHINGTON (AP) — The president of a regional Federal Reserve bank that will oversee a groundbreaking business lending program said Wednesday that he thinks a slower-than-expected recovery from the economic downturn would lead companies to seek critical support from the program. In an interview with The...

FILE - In this May 13, 2020, file photo, tour guide Barbara Western waves a flag in support of bus and motor coach operators circling National Mall in Washington during a rally to raise awareness of the industry in the wake of the coronavirus outbreak. America's private buses are ground to a halt, and members of the industry say they need federal assistance to help the country get back to work and play. (AP Photo/Patrick Semansky, File)

Virus-sapped bus lines see road to ruin without federal help

May. 20, 2020 12:52 PM EDT

LEWISTON, Maine (AP) — The nation's 3,000 or so private bus lines — and the millions of people who rely on them for cheap, basic travel — fret that they'll go under without the same kind of federal help trains and planes are enjoying as a pandemic-immobilized America tries to get back to work...

President Donald Trump speaks with reporters after meeting with Senate Republicans at their weekly luncheon on Capitol Hill in Washington, Tuesday, May 19, 2020. Standing behind Trump are Sen. John Barrasso, R-Wyo., second from right, and Senate Majority Leader Mitch McConnell of Ky. (AP Photo/Patrick Semansky)

Trump urges Senate Republicans to 'be tough' on Democrats

May. 19, 2020 7:35 PM EDT

WASHINGTON (AP) — President Donald Trump arrived on Capitol Hill on Tuesday for perhaps one of the larger social gatherings still happening in Washington amid the coronavirus — the weekly Senate Republican lunch. Behind closed doors, Trump was unscripted and freewheeling with the 53 GOP senators. He...

In this March 3, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference in Washington. Powell is pledging to reveal the names and other details of the entities that borrow from the emergency programs the central bank has set up to offset the economic hit from the viral outbreak. In prepared testimony for a Tuesday, May 19, 2020 congressional hearing, Powell says the central bank will disclose the amounts borrowed and the interest rates it levies under its programs to provide credit for large corporations, state and local governments, and medium-sized businesses. (AP Photo/Jacquelyn Martin, file)

Mnuchin and Powell push differing priorities to aid economy

May. 19, 2020 4:13 PM EDT

WASHINGTON (AP) — Facing the gravest U.S. economic crisis in decades, Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell offered Congress contrasting views Tuesday of what the government's most urgent priority should be. Striking a theme frequently pushed by President Donald Trump,...

FILE - In this April 28, 2020 file photo President Donald Trump, along with Jovita Carranza, administrator of the Small Business Administration, and Treasury Secretary Steven Mnuchin listen during an event about the Paycheck Protection Program used to support small businesses during the coronavirus outbreak, in the East Room of the White House in Washington. The Small Business Administration is shouldering a massive relief effort for the nation’s small businesses and their workers left reeling by the pandemic. The agency has committed to auditing every sizable emergency loan it approves. But six weeks after the $600 billion-plus program was launched, the agency has yet to make public the recipients of taxpayer aid.  (AP Photo/Evan Vucci)

Who got what? Details scant on small-business relief effort

May. 19, 2020 10:48 AM EDT

WASHINGTON (AP) — A small, overlooked federal agency is shouldering a massive relief effort for the nation’s small businesses and their workers left reeling by the pandemic. The Small Business Administration has committed to auditing every sizable emergency loan it approves. But six weeks after...

Treasury Secretary Steven Mnuchin speaks during a meeting with restaurant industry executives about the coronavirus response, in the State Dining Room of the White House, Monday, May 18, 2020, in Washington. (AP Photo/Evan Vucci)

Mnuchin to face grilling about small-business lending effort

May. 19, 2020 3:01 AM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin will likely come under tough questioning from senators Tuesday about a small business lending program included in the government's $2 trillion relief package. Lawmakers from both parties have criticized the Payroll Protection Program, which initially...

A woman wearing face mask walks past a bank electronic board showing the Hong Kong share index Tuesday, May 19, 2020. Asian shares rose Tuesday on optimism about a potential vaccine for the coronavirus after hopes for a U.S. economic recovery in the second half of the year sent Wall Street into a rebound. (AP Photo/Vincent Yu)

Asian stocks up on hopes for vaccine and economies reopening

May. 19, 2020 12:10 AM EDT

TOKYO (AP) — Asian shares rose Tuesday on optimism about a potential vaccine for the coronavirus after hopes for a U.S. economic recovery in the second half of the year sent Wall Street into a rebound. Japan's benchmark Nikkei 225 added 1.9% in morning trading to 20,517.42. Australia's S&P/ASX 200...