Treasury Secretary Steven Mnuchin sat down for a round-table interview in Bloomberg’s Washington office on Tuesday. Here’s a roundup of the news that emerged from his conversation with editors and reporters.
Mnuchin Blames Volcker Rule, High-Speed Trading for Volatility
Treasury Secretary Steven Mnuchin blamed volatility in equity markets partly on high-speed trading and the effect of the Volcker Rule, adding that he planned to conduct an inter-agency review of market structure. “Over a longer period of time the market reflects various different economic components but a normal trading day now is a 500-point range. A lot of that has to do with market structure, and that’s something we’re going to take a look at,” he said.
