March 16, 2020 / 1:52 PM / 21 days ago

U.S. Treasury Secretary says banking system 'can handle this' after Fed action: CNBC

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Monday that the country’s banking system can handle the Federal Reserve’s latest emergency rate cut and that President Donald Trump’s administration aims to ensure businesses have liquidity during the current coronavirus crisis, CNBC reported.

“The banking system can handle this after the Fed’s actions. Now it is a question of liquidity for those who need it,” he said, according to CNBC.

“The goal is not to bail out companies,” Mnuchin also said.

Reporting by Lisa Lambert; Editing by Chizu Nomiyama

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