March 11, 2020 / 4:21 PM / 17 days ago

Mnuchin says no need for intervention in markets due to coronavirus

WASHINGTON, March 11 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said banking regulators are looking at various possible short-term regulatory actions in response to the fast-spreading coronavirus outbreak, but he saw no need for intervention in financial markets.

“We see no need for any intervention in the markets,” Mnuchin told reporters after a U.S. House Appropriations Committee hearing, noting that the Federal Reserve had already put liquidity into the market.

“The Fed has already acted significantly in putting lots of liquidity into the market,” he said, adding that he was in daily contact with Federal Reserve Chair Jerome Powell. (Reporting by David Lawder and Andrea Shalal Editing by Chizu Nomiyama)

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