Former Treasury Secretary Steven Mnuchin discounted risks of a US recession, and played down the current selloff in equities, advising investors against overreacting to President Donald Trump’s aggressive trade tactics.
“We came in with the market being fully priced, so I think a 5% to 10% correction on the S&P or the Nasdaq actually makes sense,” Mnuchin said in an interview with Bloomberg’s Saleha Mohsin Thursday. 
He spoke as the S&P 500 Index added to its recent selloff, with the gauge heading for its lowest close since September. Thursday’s drop followed threats by Trump to impose a 200% tariff on European alcoholic beverages, in the latest escalation in a growing transatlantic trade war.

Former Treasury Secretary Steven Mnuchin discounted risks of a US recession, and played down the current selloff in equities, advising investors against overreacting to President Donald Trump&rsquo;s aggressive trade tactics. &ldquo;We came in with the market being fully priced, so I think a 5% to 10% correction on the S&amp;P or the Nasdaq actually makes sense,&rdquo; Mnuchin said in an interview with Bloomberg&rsquo;s Saleha Mohsin Thursday.&nbsp; He spoke as the S&amp;P 500 Index added to its recent selloff, with the gauge heading for its lowest close since September. Thursday&rsquo;s drop followed threats by Trump to impose a 200% tariff on European alcoholic beverages, in the latest escalation in a growing transatlantic trade war.

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Steven Mnuchin Talks Recession, Economy and Trump

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