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Former Treasury Secretary Steven Mnuchin is planning an investment fund backed by Persian Gulf wealth funds, report says

Reuters Former Treasury Secretary Steven Mnuchin plans to launch an investment fund backed by sovereign wealth funds in the Persian Gulf, the Washington Post reported. The fund will invest in areas including financial technology and entertainment. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Former Treasury Secretary Steven Mnuchin is planning to launch an investment fund that will be backed by sovereign wealth funds in the Persian Gulf region and other investor...
Tags: Washington Post, Saudi Arabia, White House, Trends, Markets, US Treasury, Sovereign Wealth Fund, Persian Gulf, Mnuchin, Former Treasury, Steven Mnuchin, Treasury Secretary Steven Mnuchin, Goldman Sachs Read, Emily Graffeo, Mnuchin investment fund, Persian Gulf Sovereign Wealth Funds


US stocks slide amid dispute over Fed funds and spiking COVID-19 cases

Bryan R Smith/Reuters US stocks fell on Friday as conflict over the use of Federal Reserve funds offset positive developments for vaccine distribution.Treasury Secretary Steven Mnuchin urged the Fed on Thursday to return funds set aside for emergency lending, setting up several relief programs for year-end expiration.The move marked a rare bout of disagreement, as the Fed replied with a call to extend "the full suite of emergency facilities" past their upcoming deadlines.Pfizer and BioNTec...
Tags: California, US, Trends, Markets, Bank Of America, Bitcoin, Ubs, Treasury, World Health Organization, Oil Price, Warren Buffett, Fda, Pfizer, Federal Reserve, Dow Jones, Gold Price


US stocks slide after Mnuchin dents hopes for pre-election stimulus

Lucas Jackson/Reuters US stocks sank on Wednesday as Treasury Secretary Steven Mnuchin dashed hopes of passing new stimulus before Election Day.Despite holding multiple calls with House Speaker Nancy Pelosi, "getting something done before the election and executing on that would be difficult," Mnuchin said at a conference.Goldman Sachs shares climbed after the bank handily beat estimates for third-quarter revenue and earnings.Bank of America and Wells Fargo fared worse, with both firms cit...
Tags: Congress, Senate, White House, US, Trends, Markets, Bank Of America, House, Ubs, Treasury, Mitch McConnell, Oil Price, Goldman Sachs, Nancy Pelosi, Morgan Stanley, Dow Jones


Republicans want to pass a series of standalone stimulus bills. Here's what that means, and why it's unlikely to happen.

BRENDAN SMIALOWSKI/AFP via Getty Images After abruptly ending stimulus talks on Tuesday, President Trump reversed course and called for a piecemeal strategy to passing some economic aid. In Tuesday night tweets, the president called for Congress to pass $25 billion in airline aid, $135 billion in funds for the Paycheck Protection Program, and another round of $1,200 stimulus checks. Yet the approach of passing standalone stimulus bills has failed before. Past attempts by Senate Republican...
Tags: Politics, Supreme Court, Congress, Senate, White House, Trends, Markets, Economy, Policy, Fox, Democrats, Gop, House, Treasury, Mitch McConnell, Nancy Pelosi


The Fed warned of 'tragic' consequences if the US didn't do more to support its economic recovery. Hours later, Trump killed talks about more stimulus.

President Donald Trump and Federal Reserve Chairman Jerome Powell. Reuters Federal Reserve Chair Jerome Powell on Tuesday made his most pronounced call yet for additional relief spending, saying that the risks of passing too little stimulus far outweighed the risks of overspending and that a diminished rebound would be "tragic." Hours later, President Donald Trump said in a tweet that he was abruptly ending stimulus negotiations and that he would enact a spending bill if he is reelected in...
Tags: Congress, US, Trends, Markets, Economy, House, Economic recovery, Treasury, Bill Ackman, Nancy Pelosi, Federal Reserve, Donald Trump, Morgan Stanley, Walter Reed, Stimulus, Cnbc


The Fed warned of 'tragic' consequences if the US didn't do more to support its economic recovery. Hours later, Trump killed talks around more stimulus.

Reuters Federal Reserve Chair Jerome Powell on Tuesday made his most pronounced call yet for additional relief spending. He said the risks of passing too little stimulus far outweigh the risks of overspending, adding that a diminished rebound would be "tragic." Mere hours after, President Trump abruptly ended stimulus negotiations, saying in a tweet he will pass a spending bill if he wins reelection in November. The move shocked investors, economists, and even other Fed officials. With mi...
Tags: Congress, US, Trends, Markets, Economy, House, Economic recovery, Treasury, Bill Ackman, Nancy Pelosi, Federal Reserve, Donald Trump, Morgan Stanley, Stimulus, Cnbc, Trump



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