Fox Business Stocks fell on Wednesday as investors took in another batch of bank earnings and Treasury Secretary Steve Mnuchin cast doubt that additional fiscal stimulus would happen before the election. The Dow Jones fell 137 points or 0.5%, while the NASDAQ Composite and S&P 500 fell 0.9% and 0.7%, respectively. Mnuchin said Democratic and Republican lawmakers were “far apart” when it
CNBC Treasury Secretary Steven Mnuchin told CNBC on Monday that lawmakers should not allow fears over the size of the nation’s deficit or the Federal Reserve’s balance sheet to delay additional Covid-19 relief. Mnuchin, who with White House chief of staff Mark Meadows has led the administration’s Covid-19 relief negotiations, said the economic crisis warrants extraordinary stimulus from Congress and the Fed.
CNBC Treasury Secretary Steven Mnuchin told CNBC on Tuesday the government will audit any company taking out more than $2 million from the small business loan program. The government program allows companies to have their loans forgiven, provided they spend the funds on payroll, benefits, rent and utilities. The Paycheck Protection Program faced backlash after several public companies disclosed they
Barron’s Oil prices rose Tuesday morning following comments by Treasury Secretary Steven Mnuchin that the U.S. needs to buy even more oil at today’s low prices. Government purchases of huge amounts of oil would essentially equate to a bailout of the U.S. oil industry, because several U.S. producers would likely go out of business if demand and prices stay low.
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