03.27.20
Mnuchin Says U.S. Financial Markets to Remain Open
by: Paul Kiernan
The nation's top financial regulators on Thursday stressed the importance of keeping financial markets open, though Treasury Secretary Steven Mnuchin didn't rule out limiting trading hours. “I have made a comment in the past [that] if, for whatever reason, we get to a point where the underlying regulators determine that the market can't stay open full hours, we may consider limiting the trading hours,” Mnuchin said in a webcast meeting of the Financial Stability Oversight Council. “But that is not our preference.” SEC chair Jay Clayton suggested that shutting markets could be counterproductive. “This continued flow of capital greatly reduces the possibility that this unexpected and unprecedented, exogenous shock to our economy will transition to a systemic financial risk,” Clayton said during the meeting.
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