Latest Steven Mnuchin News

FILE - In this Nov. 10, 2020, file photo the morning sun illuminates the rotunda of the Russell Senate Office Building on Capitol Hill in Washington. After months of shadowboxing amid a tense and toxic campaign, Capitol Hill's main players are returning to Washington for one final, perhaps futile, attempt at deal making on a challenging menu of year-end business. (AP Photo/J. Scott Applewhite, File)

Congress returns with virus aid, federal funding unresolved

Nov. 30, 2020 11:39 AM EST

WASHINGTON (AP) — After months of shadowboxing amid a tense and toxic campaign, Capitol Hill's main players are returning for one final, perhaps futile, attempt at deal-making on a challenging menu of year-end business. COVID-19 relief, a $1.4 trillion catchall spending package, and defense policy...

President-elect Joe Biden removes his face mask as he arrives to introduce his nominees and appointees to key national security and foreign policy posts at The Queen theater, Tuesday, Nov. 24, 2020, in Wilmington, Del. President-elect Joe Biden’s first wave of Cabinet picks and choices for his White House staff have prized staying power over star power, with a premium placed on government experience and proficiency as he looks to rebuild a depleted and demoralized federal bureaucracy.(AP Photo/Carolyn Kaster)

Analysis: Biden prioritizes experience with Cabinet picks

Nov. 25, 2020 8:29 AM EST

NEW YORK (AP) — Competence is making a comeback. President-elect Joe Biden has prized staying power over star power when making his first wave of Cabinet picks and choices for White House staff, with a premium placed on government experience and proficiency as he looks to rebuild a depleted and demoralized...

FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. (AP Photo/Andrew Harnik, File)

Awaiting Yellen at Treasury: Yet another daunting crisis

Nov. 24, 2020 12:01 AM EST

WASHINGTON (AP) — Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden's apparent choice for treasury secretary, served on the Federal Reserve's policymaking committee during the 2008-2009 financial crisis that...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Nov. 24, 2020. Asian shares were mostly higher Tuesday, encouraged by news on the development of coronavirus vaccines and more assurance for a transition of power in the U.S. to President-elect Joe Biden. (AP Photo/Vincent Yu)

Asian shares mostly rise on virus vaccine, Yellen hopes

Nov. 23, 2020 10:17 PM EST

TOKYO (AP) — Asian shares were mostly higher Tuesday, encouraged by news on the development of coronavirus vaccines and more assurance for a transition of power in the U.S. to President-elect Joe Biden. The U.S. federal government recognized Biden as the “apparent winner” of the Nov. 3...

People wearing face masks walk past a screen showing the precautions against the coronavirus in Seoul, South Korea, Friday, Nov. 20, 2020. The screen reads:

Asian stocks rise ahead of US economic data amid virus fears

Nov. 22, 2020 11:11 PM EST

BEIJING (AP) — Asian stocks rose Monday as investors looked ahead to quarterly U.S. economic data amid unease about anti-coronavirus curbs on business and wrangling over the American presidential election. Market benchmarks in Shanghai, Seoul and Sydney rose while Hong Kong retreated. Japanese markets were...

President-elect Joe Biden, speaks during a meeting with Vice President-elect Kamala Harris, Senate Minority Leader Chuck Schumer of N.Y., and House Speaker Nancy Pelosi of Calif., left, Friday, Nov. 20, 2020, in Wilmington, Del. (AP Photo/Alex Brandon)

Biden wants Congress to pass virus aid in lame-duck session

Nov. 20, 2020 6:46 PM EST

WILMINGTON, Del. (AP) — President-elect Joe Biden is pushing Congress to approve billions of dollars in emergency COVID-19 assistance before he takes office, saying in a meeting Friday with the top Democrats in the House and Senate that such a package should be approved during the lame-duck session. Biden...

FILE - In this Sept. 24, 2020 file photo, Federal Reserve Chair Jerome Powell, right, and Treasury Secretary Steve Mnuchin testify during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, in Washington. Mnuchin on Friday, Nov. 20 denied that he is trying to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said his decision was based on the fact that the programs were not being heavily utilized and the money could be better used by being re-allocated by Congress to provide support in other areas such as further grants to small businesses and extended unemployment assistance.  (Toni L. Sandys/The Washington Post via AP, Pool)

Mnuchin denies trying to limit Biden's economic options

Nov. 20, 2020 6:19 PM EST

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin denied on Friday that he is attempting to limit President-elect Joe Biden's options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said the programs were not being heavily...

In this photo provided by the New York Stock Exchange, a trader works on the floor during the IPO of Omnichannel Acquisition Corporation, Friday, Nov. 20, 2020. U.S. stocks are pulling a bit lower in midday trading Friday as worries about the worsening pandemic weigh on rising optimism about a coming coronavirus vaccine. (Courtney Crow/New York Stock Exchange via AP)

Wall Street slips amid worries about worsening pandemic

Nov. 20, 2020 4:57 PM EST

Stocks closed broadly lower on Wall Street Friday following another choppy day of trading as worries about the worsening pandemic undercut growing optimism about a coming coronavirus vaccine. The S&P 500 fell 0.7%, erasing its gains from a day earlier. The benchmark index, which climbed to an all-time high on...

Senate Majority Leader Mitch McConnell, R-Ky., arrives to talk to reporters after a Republican Conference luncheon, on Capitol Hill in Washington, Tuesday, Nov. 17, 2020. (AP Photo/J. Scott Applewhite)

The Latest: McConnell proposes shifting funds to COVID aid

Nov. 20, 2020 2:51 PM EST

WASHINGTON (AP) — The Latest on President-elect Joe Biden (all times local): 2:45 p.m. Senate Majority Leader Mitch McConnell is proposing that Congress funnel $455 billion of unspent small business lending funds toward a new COVID-19 aid package. The Republican leader’s offer Friday comes after a...

FILE - In this Monday, Sept. 21, 2020 file photo, Treasury Secretary Steve Mnuchin speaks during a news conference to announce the Trump administration's restoration of sanctions on Iran at the U.S. State Department in Washington. Treasury Secretary Steven Mnuchin said Thursday, Nov. 19, 2020 he will not to extend several emergency loan programs set up with the Federal Reserve to support the economy in the midst of the coronavirus pandemic.(AP Photo/Patrick Semansky, File)

Mnuchin rejects renewal of some Fed emergency loan programs

Nov. 19, 2020 7:33 PM EST

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Thursday he will not extend several emergency loan programs set up with the Federal Reserve, an action that could hamper the ability of the incoming Biden administration to gain important economic support from the central bank to deal with the...