U.S. Treasury Secretary Mnuchin said U.S. fundamentals are strong
U.S. Treasury Secretary Mnuchin said U.S. fundamentals are strong and markets are not efficient, experiencing a "normal market correction," sometimes they overshoot to the downside and upside. Speaking from the IMF meetings in Bali to CNBC, Mnuchin also said specific markets may be hit by a soft patch as trade talks continue, but overall positive for the U.S. economy. He also said that Powell was doing a good job and understands the regulatory environment. He noted that Trump will have a meeting with China's Xi at the G20 if its looks to be positive, bu the U.S. need to have "concrete action items" from China to resume talks (similar to Kudlow yesterday). Overall the comments were seen as reassuring to the markets, which were already on the mend in overnight trade.