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22

Mnuchin Defends Banking Past, Advocates Strong U.S. Dollar

By Tony Seruga

Treasury secretary nominee says IRS must run more efficiently
He backs Volcker Rule, existing sanctions, cutting tax fraud

Treasury Secretary nominee Steven Mnuchin said a strong dollar is important over the long term, noting that it’s currently “very, very strong,” and that avoiding U.S. default on the debt would be a top priority if he’s confirmed.

Mnuchin also defended his personal record as a founder of OneWest Bank amid the housing crisis, and pushed for tax reform as a key way to lift economic growth as promised by President-elect Donald Trump. Mnuchin’s comments at his Senate confirmation hearing on Thursday in Washington come after Trump rattled currency markets by saying the dollar was “too strong” in an interview with the Wall Street Journal…

Mnuchin Defends Banking Past, Advocates Strong U.S. Dollar

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