US Treasury secretary Steven Mnuchin still speaking in Davos
- Administration's objective is to create good US economy that creates jobs
- People have confidence in the US economy
- Trump is 'very excited' to be in Davos
- Economic success based on wages, jobs, and GDP; and markets will reflect that
- Wants to avoid cryptocurrencies as they are used for illicit activity
It's just non-stop from the man today. And it looks like they're all being questioned a little on cryptocurrencies. IMF head Christine Lagarde also commented that the IMF is "monitoring and analysing cryptocurrency risks".
Anyway, the market will react in the way it reacts - whether or not those fundamentals matter is something out of his control. But he has to make those points as a politician now I guess.
Major currencies are mostly trading sideways in the last hour, as his comments fail to hold much weight now. A case of too much to say until the market pretty much doesn't care for it anymore.
The Davos panel discussion concludes. That should put a pause to proceedings for the time being.