Kudlow’s Money Politics

Last Night’s Steel Interview

From Reuters:

US Treasury’s Steel sees money markets settling

WASHINGTON, Sept 6 (Reuters) – The U.S. Treasury’s domestic finance chief said on Thursday he was optimistic that money markets would be operating normally by year-end as a liquidity crunch eases and market confidence returns.

Robert Steel, the Treasury’s undersecretary for domestic finance, told CNBC Television, however that it would take a long time for banks to become more comfortable in taking lending risks, and more encouragement was needed.

“I think for now things are working and they’ve improved from where they were at the bottom,” Steel said on CNBC’s Kudlow & Company show. “Basically we believe liquidity is beginning to come back but we’re vigilant and focused on the issue,” he added.

Steel also said that efforts to help financially troubled homeowners restructure their mortgages and avoid foreclosure should be focused on owner-occupants, not those with second homes or properties bought for speculation.

Larry Kudlow — Larry Kudlow is the author of JFK and the Reagan Revolution: A Secret History of American Prosperity, written with Brian Domitrovic.

Most Popular

White House

Mueller’s Got Nothing

The revelations of the last few days are, though disguised, the crash in ignominy of the Robert Mueller putsch. But they are far from the end of the story. While the sire of the Mueller hit-squad assault, former FBI director James Comey, declared 245 times at last Friday’s House Judiciary Committee hearing that ... Read More
World

The Dangers of Asymmetry

It is strange how suddenly a skeptical Wall Street, CEOs, and even university and think-tank policy analysts are now jumping on the once-taboo Trump bandwagon on China: that if something is not done to stop China’s planned trajectory to global hegemony, based on its repudiation of the entire post-war trade and ... Read More