17 Apr 2017
US did not intervene in currency markets - U.S. Treasury's Mnuchin - FT
The Financial Times published a story on a recent interview that was conducted with Steven Mnuchin, the United States Secretary of the Treasury.
Key quotes:
- The president was making a factual comment about the strength of the dollar in the short term . . . There’s a big difference between talk and action
- Mr. Mnuchin insisted he still expected the tax system to be reformed in 2017
- On tax reforms: It is fair to say it is probably delayed a bit because of the healthcare
- There may be other ways of raising $1tn without incorporating the border adjustment
- The president’s comment, which again I agree with, is that over short periods of time the strength of the dollar creates certain issues that hurt our exports. I think that is what he has referred to, which is again factually correct.