Latest Steven Mnuchin News

Facebook's new currency plan is under scrutiny in Congress

Jul. 16, 2019 9:32 AM EDT

WASHINGTON (AP) — Facebook's ambitious plan to create a financial eco-system based on a digital currency faces questions from lawmakers, as it's shadowed by negative comments from President Donald Trump, his treasury secretary and the head of the Federal Reserve. Congress begins two days of hearings...

Mnuchin says budget deal with Pelosi is 'very close'

Jul. 15, 2019 9:04 PM EDT

WASHINGTON (AP) — It's House Speaker Nancy Pelosi and top Senate Republican Mitch McConnell vs. hardliners in the White House as lawmakers pursue a deal on federal spending and the debt. And the hardliners, wary of further increases to federal spending, appear to be losing. Talks between Pelosi and...

Treasury chief: Facebook currency plan ripe for illicit use

Jul. 15, 2019 6:24 PM EDT

WASHINGTON (AP) — The Trump administration came out strongly Monday against Facebook's ambitious plan to create a new digital currency, as the Treasury chief warned it could be used for illicit activity such as money laundering, human trafficking and financing terrorism. Treasury Secretary Steven Mnuchin...

Former Idaho governor seeks investigation of mining company

Jul. 15, 2019 4:28 PM EDT

BOISE, Idaho (AP) — Former Idaho Gov. C.L. "Butch" Otter has asked the Trump administration to investigate possible Chinese involvement in a mining company that could compete in Idaho with a Canadian-based company that tapped Otter to serve on its board of directors. The Idaho Statesman reports in a story...

Business Highlights

Jul. 12, 2019 5:01 PM EDT

___ Report: FTC approves roughly $5B fine for Facebook SAN FRANCISCO (AP) — A Wall Street Journal report says that the FTC has voted this week to approve a fine of about $5 billion for Facebook over privacy violations. The report Friday cites an unnamed person familiar with the matter. Facebook and the FTC...

Mnuchin urges Congress to quickly pass new debt limit

Jul. 12, 2019 2:38 PM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin told congressional leaders that the debt ceiling should be raised before lawmakers leave for their August recess to avert the potential of an unprecedented default on the national debt. In a letter to House and Senate leaders Friday, Mnuchin said that...

Pelosi ready for deal on borrowing limit, spending levels

Jul. 11, 2019 9:45 PM EDT

WASHINGTON (AP) — House Speaker Nancy Pelosi said Thursday that she wants to complete a deal with President Donald Trump this month that would raise the government's borrowing limit and set spending levels for the coming budget year. Pelosi's office said the California Democrat spoke twice with Treasury...

Officials: Progress made in talks on ending Venezuela crisis

Jul. 11, 2019 5:42 PM EDT

CARACAS, Venezuela (AP) — Officials in both Venezuela's government and opposition reported Thursday that advances have been made in negotiations on breaking the country's political standoff and said further talks will be held next week. The upbeat assessment came after a third round of talks between the...

Treasury secretary: Congress may need quick debt limit deal

Jul. 10, 2019 7:46 PM EDT

WASHINGTON (AP) — Congress might need to extend the government's crucial ability to borrow money before leaving the Capitol for its August recess, Trump administration officials said Wednesday. The timetable would heap extraordinary pressure on lawmakers to cut a deal on a measure that usually requires...

US, Chinese trade envoys in 1st contact after Trump-Xi truce

Jul. 10, 2019 4:43 AM EDT

BEIJING (AP) — The top U.S. and Chinese trade envoys have spoken by phone in their first known contact since Presidents Donald Trump and Xi Jinping agreed to resume stalled talks on ending a tariff war. Beijing's envoy, Vice Premier Liu He, talked Tuesday with Trade Representative Robert Lighthizer and...