Mnuchin Wants Markets Open, Focused on Mortgage Firms’ Liquidity
- Regulators agree that stock trading should continue, he says
- He has also formed a task force to assist mortgage servicers
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Treasury Secretary Steven Mnuchin reiterated Thursday that he wants U.S. financial markets to remain open even as the coronavirus fuels wild volatility, while adding that he’s focused on helping mortgage firms expected to be hit hard by the pandemic’s spreading economic pain.
Mnuchin, speaking on a call with the nation’s top financial regulators, said there’s a consensus among federal agencies that it’s “in the best interest” that trading in stocks and other assets continue. He was joined by Federal Reserve Chairman Jerome Powell, Securities and Exchange Commission Chairman Jay Clayton and other agency leaders.