Latest Steven Mnuchin News

Strong start to December as S&P 500 index sets another high

Dec. 1, 2020 5:30 PM EST

Wall Street kicked off December with more milestones Tuesday after a broad rally for stocks pushed the S&P 500 and Nasdaq composite to new highs. The S&P 500 gained 1.1%, with Big Tech companies and banks driving a big part of the rally. The strong opening to December follows a 10.8% surge for the broad...

FILE - In this Feb. 5, 2020, file photo, Sen. Joe Manchin, D-W.Va., speaks with reporters on Capitol Hill in Washington. A bipartisan group of lawmakers, including Manchin,  is putting pressure on congressional leaders to accept a split-the-difference solution to the months-long impasse on COVID-19 relief in a last-gasp effort to ship overdue help to a hurting nation before Congress adjourns for the holidays. (AP Photo/Patrick Semansky, File)

Senate GOP leader sticking with partisan COVID relief plan

Dec. 1, 2020 5:26 PM EST

WASHINGTON (AP) — Top Senate Republican Mitch McConnell said Tuesday he's largely sticking with a partisan, scaled-back COVID-19 relief bill that has already failed twice this fall, even as Democratic leaders and a bipartisan group of moderates offered concessions in hopes of passing pandemic aid before...

President-elect Joe Biden speaks as Vice President-elect Kamala Harris listens at left, during an event to introduce their nominees and appointees to economic policy posts at The Queen theater, Tuesday, Dec. 1, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)

Unveiling economic team, Biden pledges, 'Help is on the way'

Dec. 1, 2020 3:55 PM EST

WILMINGTON, Del. (AP) — President-elect Joe Biden on Tuesday introduced top advisers he says will help his administration rebuild an economy hammered by the coronavirus pandemic, declaring, “I know times are tough, but I want you to know that help is on the way.” Biden said he'd chosen a...

Chairman of the Federal Reserve Jerome Powell listens as Treasury Secretary Steven Mnuchin testifies during a Senate Banking Committee hearing on 'The Quarterly CARES Act Report to Congress' on Capitol Hill in Washington, Tuesday, Dec. 1, 2020. (AP Photo/Susan Walsh, Pool)

Mnuchin defends shut down of Fed emergency loan programs

Dec. 1, 2020 1:20 PM EST

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging. Democrats were unconvinced, however, saying that Mnuchin’s actions are politically motivated and intended to...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Dec. 1, 2020. Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powell’s appearance before legislators. (AP Photo/Ahn Young-joon)

Asian stocks gain on stronger Chinese factory data

Nov. 30, 2020 11:50 PM EST

BEIJING (AP) — Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powell’s appearance before legislators. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 index...

File-This Sept. 24, 2020, file photo Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, on Capitol Hill in Washington. In remarks released by the Fed on Monday, Nov. 30, 2020, Powell said that the increase in new COVID-19 cases both in the United States and abroad was “concerning and could prove challenging for the next few months.  (Drew Angerer/Pool via AP, File)

Powell says pace of economic improvement has moderated

Nov. 30, 2020 5:50 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says that the pace of improvement in the economy has moderated in recent months with future prospects remaining “extraordinarily uncertain.” In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases...

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 5:25 PM 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...