While he would prefer if Congress raised Treasury's borrowing limit before its August break, Treasury Secretary Steven Mnuchin said in a televised interview, even if a deal is not reached, the government will be "fine" until they return in September.

Regarding long bonds, Mnuchin told CNBC, no decision has been made as Treasury studies the costs and benefits of 50-year and 100-year bonds.

Turning to the Fed, Mnuchin called plans to reduce its balance sheet "the right thing" to do. National Economic Council chief Gary Cohn has been interviewing to fill vacancies on the Board of Governors, Mnuchin said, but there’s no decision yet on Chair Janet Yellen’s possible reappointment.

President Trump’s tax reform proposal does not include new federal funding for infrastructure, Treasury Secretary Steven Mnuchin said Wednesday.
Treasury Secretary Steven Mnuchin wants the debt limit issue settled before Congress recesses.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.