Tuesday , January 31 2023

After the big stock market, Mnuchin calls for the largest US banks



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US Treasury Department Steven Mnuchin 03 December 2018Photo copyright
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The US Treasury Department, Steven Mnuchin, said the banks had "enough liquidity," adding details of their conversations.

US Treasury Department Steven Mnuchin, the top six bank managers, made a call to reassure investors after the fall of US stocks.

Last week, US shares dropped to one of the lowest weeks, with interest rates rising, and US-China trading cycles shrank markets.

Mr Mncuin has confirmed that banks are "sufficient liquidity" for operations.

This is partly due to spending plans in the government's closure.

"The [bank’s chief executives] consumers, business markets and all other market transactions, "Mr Mnuchin said in a Twitter account.

""[Mr Mnuchin] Treasurers' statement says that they did not deal with any formalities or margins, and confirmed that the markets continued to operate correctly.

Photo copyright
Sarah Porter

All three US indices closed down last week. Technology-based Nasdaq, down from its peak so far, has dropped by 20 percent to the so-called "bear market".

US investors worry about a number of factors that slow down economic growth at home and at the international level.

Meanwhile, the US government's partial closure of the United States began at midnight on Friday after opposition Democrats turned President Donald Trump's $ 5 billion (£ 4 billion) demand for the Mexican border.

  • The closure of the United States would begin in the new year
  • US funds hit the worst week for decades

The closure of budget expenditures could continue until January 3, when the next Congress was inaugurated.

Mr. Knutin will now meet with the Presidential Working Group.

The group also includes market regulators and Federal Reserve Governments. The statement said that "coordination efforts to ensure normal market operations" will be discussed.

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