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☆ NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent
▼ + stars: | 2024-03-07 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

New York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital. The bank had $77.2 billion in deposits as of March 5, NYCB said in an investor presentation tied to the capital raise. NYCB also said it's slashing its quarterly dividend for the second time this year, to 1 cent per share from 5 cents, an 80% drop. In a little more than a month, the bank changed its CEO twice, saw two rounds of rating agency downgrades and announced deepening losses. At its nadir, NYCB's stock sank below $2 per share Wednesday, down more than 40%, before ultimately rebounding and ending the day higher.

Persons: Steven Mnuchin's, NYCB, downgrades Organizations: York Community Bank, Strategic Capital, Moody's, Mnuchin's Liberty Strategic Capital Locations: New York

☆ Customers are pulling their cash from NYCB, but it’s no bank run
▼ + stars: | 2024-03-07 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —Customers of New York Community Bank (NYCB) pulled $6 billion worth of deposits between February 5 and March 5, leaving the bank’s deposit base 7% lower, at $77 billion. However, the pattern is not indicative of a bank run, which these days can drain a lender of funds in mere hours. Shortly ahead of its demise, depositors at Silicon Valley Bank tried withdrawing $42 billion in one day over fears they wouldn’t be able to access their funds if the bank failed. On Thursday’s call, NYCB also announced it’s slashing its dividend to one penny a share. Increasing both means the bank has fewer funds available to lend, which as a result would limit its profitability.

Persons: NYCB, Steven Mnuchin’s, Alessandro DiNello, ”, ” DiNello Organizations: New, New York CNN, New York Community Bank, Silicon Valley Bank, Liberty Strategic Capital, NYCB, Wall, Moody’s Investors Service, Fitch Locations: New York, Silicon

☆ Premarket: Investors are obsessed with this AI stock you may never have heard of
▼ + stars: | 2024-03-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Nvidia isn’t the only stock capturing the attention of AI enthusiasts these days. Nvidia closed above a $2 trillion market cap on March 1, joining an elite cohort including Apple and Microsoft. Supermicro’s stock gained even more momentum in January, after the company reported second-quarter results that blew past expectations and raised its full-year revenue forecast. Supermicro’s stock was one of the most popular names bought by Charles Schwab clients in February, according to the firm’s latest trading activity index. New York Community Bank gets $1 billion ‘lifeline’Beleaguered regional lender New York Community Bank is receiving a more than $1 billion equity investment, reports my colleague Elisabeth Buchwald.

Persons: Charles Schwab, ChatGPT, “, ”, Supermicro, Wells Fargo, Goldman Sachs, Elisabeth Buchwald, Steven Mnuchin’s, NYCB, ” David Chiaverini, Joseph Otting, Alessandro DiNello, DiNello, Read, Jeremy Hunt, Hanna Ziady, Hunt, ” Hunt, Rishi Sunak’s Organizations: CNN Business, Bell, New York CNN, Nvidia, Apple, Microsoft, Micro, Devices, Federal Reserve, Victoria Bills, Banrion Capital Management, Bank of America, Goldman, New York Community Bank, New, Community Bank, Liberty Strategic Capital, Citadel Global, Street Journal, Wedbush Securities, CNN, Bank of England, International Monetary Fund, Hunt’s Conservative Party, Labour Party Locations: New York, San Jose, United States, Hudson Bay, NYCB

☆ New York Community Bank Raises $1 Billion in Emergency Cash
▼ + stars: | 2024-03-06 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

New York Community Bank, the midsize lender under pressure over its real estate loans and internal management, announced an overhaul on Wednesday that included more than $1 billion in emergency cash, the addition of former Treasury Secretary Steven Mnuchin to its board and the appointment of its third chief executive in a month. The investment of more than $1 billion includes cash from Mr. Mnuchin’s private equity firm, Liberty Strategic Capital, and Kenneth Griffin’s Citadel Global Equities, among others. The bank’s new chief executive, Joseph Otting, worked closely with Mr. Mnuchin in the past. He ran OneWest Bank, then owned by Mr. Mnuchin, for five years. He also oversaw the Office of the Comptroller of the Currency, one of the banking industry’s primary regulators, during the Trump administration.

Persons: Steven Mnuchin, Kenneth Griffin’s, Joseph Otting, Mnuchin, Trump Organizations: York Community Bank, Silicon Valley Bank, Liberty Strategic Capital, Global, OneWest Bank, Mr Locations: Washington, Silicon

☆ Why private equity has been involved in every recent bank deal
▼ + stars: | 2024-03-06 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Greg Nash | ReutersThe $1 billion-plus injection that New York Community Bank announced Wednesday is the latest example of private equity players coming to the need of a wounded American lender. Led by $450 million from ex-Treasury Secretary Steven Mnuchin's Liberty Strategic Capital, a group of private investors are plowing fresh funds into NYCB. That happened to Silicon Valley Bank, whose failure to raise funding last year was effectively its death knell. On Wednesday, headlines around noon that NYCB was seeking capital sent its shares down by 42% before trading was halted. "With private deals, you can talk for a while, and we almost got to the finish line before there was any publicity."

Persons: Jerome Powell, Steven Mnuchin, Greg Nash, Steven Mnuchin's, Warburg Pincus, HomeStreet, Steven Kelly, NYCB Organizations: Financial, Treasury, Reuters, York Community Bank, Strategic Capital, Centerbridge Partners, FirstSun, Wellington Management, Yale Program, Silicon Valley Bank Locations: Rayburn, Washington , U.S, NYCB, PacWest, Banc, California, it's, Silicon

Toeing the line in Miami BeachAmerica’s corporate elite were everywhere in Miami at the Future Investment Initiative conference, Saudi Arabia’s latest bid to showcase its extensive wealth and deepen ties with Western business. DealBook’s Lauren Hirsch was on hand to report on the financiers and Hollywood A-listers who made the trip. The Saudis are using their vast oil wealth to become one the world’s biggest investors and forge closer relationships with Wall Street, Silicon Valley and more. (So too did former Trump officials including Steven Mnuchin, the former Treasury secretary; Mike Pompeo, a previous secretary of state; and Jared Kushner, Trump’s son-in-law.) Attendees mingled over wine, which is banned in Saudi Arabia, and Carbone’s spicy rigatoni.

Persons: Jamal Khashoggi —, Prince Mohammed bin Salman, DealBook’s Lauren Hirsch, Steve Schwarzman, Blackstone, Barry Sternlicht, Alex Karp, Brian Grazer, Gwyneth Paltrow, Steven Mnuchin, Mike Pompeo, Jared Kushner, Trump’s Organizations: Future Investment Initiative, Saudi, Hollywood, Starwood, Palantir, Trump, Treasury Locations: Miami Beach, Miami, Silicon Valley, Saudi Arabia

☆ 'Mnuchin has not been in the room': Trump Treasury secretary absent from 2024 campaign
▼ + stars: | 2024-01-04 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

After serving in the Trump administration for four years, former Treasury Secretary Steven Mnuchin is keeping his distance from the Republican former president and his campaign, according to people familiar with the matter. "Mnuchin has not been in the room," said Stephen Moore, a conservative economist who is advising Trump. A person close to Mnuchin who was granted anonymity in order to recount private conversations, said Mnuchin supports Trump's 2024 run for president. In 2016, Mnuchin was Trump's national finance chairman during his first run for the White House. For now, Mnuchin's private equity firm, Liberty Strategic Capital, takes up most of his time, people close to the former secretary told CNBC.

Persons: Steven Mnuchin, Donald Trump, Ivanka Trump, Trump, Mnuchin, Stephen Moore, it's, Larry Kudlow, Bob Lighthizer, Trump's, Joe Biden's, Hillary Clinton, Mike Pompeo, Mike Pence Organizations: White House, White, Republican, Trump, Fox Business, National Economic Council, NBC News, Liberty Strategic Capital, CNBC, East . Press, Capitol, The Washington Post Locations: Washington , U.S, United States, East

☆ A bigger war in Israel would send oil prices skyrocketing and hurt the economy's chances of avoiding a recession
▼ + stars: | 2023-10-16 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

The impact on oil prices would be enormous with one prediction of $150 per barrel. A surge in oil prices could undo the fight against inflation and cause prices to soar again. International Monetary Fund managing director Kristalina Georgieva expressed concern on Thursday over how global oil markets would be impacted by the war. If that were to happen, they predict that oil prices would skyrocket more than 70% to $150 per barrel from just under $90 we have now. An estimated 20-30% of global oil supply passes through the Strait of Hormuz, which is controlled by Iran.

Persons: —, Kristalina Georgieva, Steven Mnuchin, That's, Mnuchin, Mustafa Hassona, there's, Jerome Powell, Liu Jie Organizations: Service, Hamas, Monetary Fund, Bloomberg Economics, Bloomberg, US, Fox Business, Anadolu Agency, Getty, Biden, US Strategic Petroleum Reserve, Strategic Petroleum Reserve Locations: Israel, Iran, Hormuz, Iraq, Kuwait, Abu Nasr, Gaza City, Ukraine, Washington ,, Xinhua

☆ Former Bridgewater CEO Dave McCormick would get big money backing for Pennsylvania U.S. Senate run
▼ + stars: | 2023-09-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Dave McCormick, Republican U.S. Senate candidate from Pennsylvania , greets supporters during a campaign event with Sen. Ted Cruz, R-Texas, at Lehigh Valley Sporting Clays in Coplay, Pa., on Tuesday, January 25, 2022. The last time McCormick ran for Senate, his chief rival in the Republican primary was TV host Dr. Mehment Oz. Christian Ferry, who previously worked for Republican Sen. Lindsey Graham and late GOP Sen. John McCain, said, "Every cycle these totals continue to go up." McCormick has reportedly been promised the support of the Senate Leadership Fund, a super PAC aligned with Republican Senate Minority Leader Mitch McConnell of Kentucky. Burch paid approximately $16 million for the estate, according to Newsday.

Persons: Dave McCormick, Sen, Ted Cruz, Dave McCormick's, Tory Burch, McCormick, Goldman Sachs, Lloyd Blankfein, Steven Mnuchin, Gary Cohn, David Solomon, Bob Steel, Perella Weinberg, Mnuchin, Donald Trump, Cohn, Bob Casey, Paul Singer, Steve Schwarzman, Burch, Mnuchin Cohn, Singer, Schwarzman, Steel, Dave, agains Casey, Dina Powell McCormick, Dina, Democrat John Fetterman, Mehment Oz, OpenSecrets . Oz, Donald Trump . Oz, Casey, Oz, Alex Conant, Republican Sen, Marco Rubio, It's, Lindsey Graham, GOP Sen, John McCain, Mitch McConnell of Organizations: Republican U.S, Lehigh Valley, U.S, Senate, Bridgewater Associates, Democratic, Elliot Investment Management, Blackstone, CNBC, Steel, NBC News, Associated Press, McCormick, Keystone, Bush, Treasury, Pennsylvania Senate, Democrat, Republican, GOP, PAC, Bridgewater, Pennsylvania Democratic Party, Fund, Prosperity, that's, Koch Industries, Hamptons, Newsday Locations: Republican, Pennsylvania, Texas, Coplay, Pa, Connecticut, Pittsburgh, Trump, OpenSecrets ., Mitch McConnell of Kentucky, Southampton, Long, , New York, Palm Beach

☆ US Representative Wexton won't seek reelection after new diagnosis
▼ + stars: | 2023-09-18 | by ( Katharine Jackson | ) www.reuters.com time to read: +2 min

REUTERS/Mary F. Calvert Acquire Licensing RightsWASHINGTON, Sept 18 (Reuters) - U.S. Representative Jennifer Wexton, a Virginia Democrat, on Monday said she would not seek reelection after doctors updated her diagnosis to a more serious condition, which she likened to "Parkinson’s (disease) on steroids." PSP is a neurological disorder that affects body movements, causing problems with walking, eye movement, and swallowing and worsens over time. The rare condition is characterized by symptoms that are similar to Parkinson's but more difficult to treat. Wexton flipped a seat held by Republicans for decades in 2018 as voters veered away from then-President Donald Trump. Reporting by Katharine Jackson; editing by Jonathan Oatis and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Jennifer Wexton, Steven Mnuchin, Mary F, Calvert, I’ve, I’m, Wexton, Donald Trump, Katharine Jackson, Jonathan Oatis, Bill Berkrot Organizations: Financial, Treasury, International, REUTERS, Rights, Virginia Democrat, National Institute of Neurological Disorders, Thomson Locations: Washington , U.S, Virginia, Northern Virginia, Washington

☆ US representative won't seek reelection after doctors say Parkinson's more serious
▼ + stars: | 2023-09-18 | by ( Katharine Jackson | ) www.reuters.com time to read: +2 min

REUTERS/Mary F. Calvert Acquire Licensing RightsWASHINGTON, Sept 18 (Reuters) - U.S. Representative Jennifer Wexton, a Virginia Democrat, on Monday said she wouldn't seek reelection after doctors updated her diagnosis to a more serious condition, which she likened to "Parkinson’s (disease) on steroids." The third-term congresswoman announced in April that she had been diagnosed with Parkinson's but would continue to work while being treated for the disease, which was affecting her speech. There is no ‘getting better’ with PSP," she said, announcing her decision on Monday. Wexton flipped a seat held by Republicans for decades in 2018 as voters veered away from then-President Donald Trump. Reporting by Katharine Jackson; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Jennifer Wexton, Steven Mnuchin, Mary F, Calvert, wouldn't, I’ve, I’m, Donald Trump, Katharine Jackson, Jonathan Oatis Organizations: Financial, Treasury, International, REUTERS, Rights, Virginia Democrat, Thomson Locations: Washington , U.S, Virginia, Northern Virginia, Washington

☆ Teamsters blast bankruptcy-bound Yellow, cite $700 million Covid loan firm got from Trump White House
▼ + stars: | 2023-07-31 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Bankruptcy-bound trucking firm Yellow received a whopping $700 million in Covid pandemic relief loans three years ago after Trump administration officials pushed for it despite objections from the Defense Department. Yellow has repaid just $230 out of the $729.2 million in principal it still owes the U.S. Treasury for those loans, according to a government watchdog's report in May. The Teamsters Union, which represents Yellow workers, blasted the freight carrier in a statement Sunday and highlighted the Covid loans. The report said, "The loan's approval involved the intervention of top Trump Administration officials —potentially including the president," Donald Trump. "Secretary Mnuchin's communications confirm President Trump's interest in the loan approval," the subcommittee noted in a statement about the report.

Persons: Trump, Sean M O'Brien, Yellow, Donald Trump, Mark Meadows, Steven Mnuchin, Trump's Organizations: Defense Department, U.S . Treasury, Teamsters Union, Teamsters, CNBC, YRC, Trump Administration, Trump White House Locations: U.S

BEVERLY HILLS, May 2 (Reuters) - Wells Fargo & Co (WFC.N) CEO Charlie Scharf said on Tuesday the banking industry is "extremely strong" but added he expects more volatility as market participants assess the health of financial institutions. "Talking about regional banks as one - it just makes absolutely no sense," Scharf said at the Milken Institute Global Conference. "Unfortunately, there will be a lot of volatility and turmoil," he said, adding that "the majority of the banks that we look at are still extremely strong." He did not expect more bank failures comparable to the recent collapses of Silicon Valley Bank, Signature Bank and First Republic Bank. Lazard advised First Republic Bank (FRC.N) before it was seized by regulators and sold to JPMorgan on Monday.

☆ The insurance limit on your savings has become a hot global debate
▼ + stars: | 2023-04-28 | by ( Julia Horowitz | ) edition.cnn.com time to read: +8 min

The US Federal Deposit Insurance Corporation insures deposits up to $250,000 per person, per account, using a fund that banks pay into. “I don’t think that’s served us well.”Some argue the US deposit insurance limit should be 100 times higher. What is deposit insurance? Deposit insurance is aimed at calming fears, giving customers less reason to pull their cash out in a hurry. The debate over deposit insurance taps into bigger questions about the state’s role in private enterprise.

☆ Israel, Sudan announce deal to normalise relations
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +3 min

KHARTOUM, Feb 2 (Reuters) - Israel and Sudan have finalised a deal to normalise relations, with a signing ceremony expected following a transfer of power from the military to a civilian government in Khartoum, the Israeli foreign ministry said on Thursday. Sudan's foreign ministry earlier said the deal was agreed during a visit by Israeli Foreign Minister Eli Cohen to "move forward towards normalising relations between the two countries". "During the visit, which was made with the consent of the United States, the parties finalised the text of the agreement," an Israeli foreign ministry statement said. As intelligence minister that same year, Cohen made a ground-breaking visit to Sudan, a majority Muslim country. "Yes to negotiations between Israel and Sudan, yes to recognition of Israel and yes to peace between the states and between the peoples."

☆ Israeli foreign minister heads delegation to discuss Sudan normalisation
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

KHARTOUM, Feb 2 (Reuters) - Israeli foreign minister Eli Cohen was in the Sudanese capital Khartoum on Thursday to discuss the normalisation of ties between the two countries, two Sudanese government sources said. The trip was part of an exchange of visits between Sudan and Israel and involved discussions on reaching and signing a normalisation deal as well as military and security issues, the sources said, speaking on condition of anonymity. In January 2021, Sudan said that its justice minister at the time, Nasredeen Abdulbari, had signed on to the Abraham Accords during a visit by U.S. Treasury Secretary Steven Mnuchin. As intelligence minister in 2021, Cohen made a ground-breaking visit to Sudan. Reporting by Khalid Abdelaziz and Dan Williams; Writing by Aidan Lewis; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Mike Pompeo is using his memoir to try to demolish the Trump adviser-turned-critic John Bolton
▼ + stars: | 2023-01-24 | by ( Kimberly Leonard | Sonam Sheth | ) www.businessinsider.com time to read: +8 min

Pompeo compares Bolton writing a memoir to Edward Snowden, who leaked classified information from the National Security Agency to reporters in 2013. "At least Snowden had the decency not to lie about his motive," Pompeo writes. Former President Donald Trump listens to former Secretary of State Mike Pompeo in the White House, on October 21, 2019. "Memo to John Bolton: I'm talking about you," Pompeo writes. Pompeo writes that he was having lunch with reporters the day of the firing and got a note saying that the president needed to speak with him.

Friday’s release of former President Donald Trump’s tax returns from his four years in the White House and two years prior is an important and long overdue public service. It also would have been a warning shot to any future presidents who may want to keep their tax returns private. ), chairman of the tax-writing House Ways and Means Committee, asked the agency for information related to Trump’s tax returns. Ultimately, though, it’s on House Democrats that the Trump tax documents release on Friday were so limited. So they couched their court case as looking into the effectiveness of mandatory IRS audits of tax returns of all sitting presidents.

☆ Factbox: Six highlights from testimony released by the Jan. 6 committee
▼ + stars: | 2022-12-29 | by ( Moira Warburton | ) www.reuters.com time to read: +4 min

Since the release of its report last week, the committee has released testimony transcripts highlighting other developments in Trump's White House, before and after the riot. "The president floated the idea and Cipollone said no," McEntee told the committee, referring to Pat Cipollone, former White House counsel. He said something to the effect of, God, no," Hutchinson told the committee, referring to the memo. Originals of all White House documents must be kept for the archives, but copies can be burned. She suspected her former lawyer of leaking her testimony to the press, and telling other Trump-adjacent figures about what she told the committee.

☆ Factbox: Four highlights from testimony released by the Jan. 6 committee
▼ + stars: | 2022-12-28 | by ( Moira Warburton | ) www.reuters.com time to read: +3 min

Since the release of its report last week, the committee has made public transcripts of testimony from various witnesses. BLANKET PARDONSTrump wanted to issue blanket pardons for everyone who participated in the riot, according to testimony from John McEntee, former head of personnel at the White House. "The President floated the idea and Cipollone said no," McEntee told the committee, referring to Pat Cipollone, former White House counsel. Originals of all White House documents must be kept for the archives, but copies can be burned. She suspected her former lawyer of leaking her testimony to the press, and telling other Trump-adjacent figures about what she told the committee.

☆ Opening keynote: Finance, technology and national security
▼ + stars: | 2022-12-12 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

Treasury Secretary Steven Mnuchin played a major role in pushing the 2017 Tax Cuts and Jobs Act through congress and in the Trump Administration's tumultuous trade negotiations with China, where technology was a central theme of those discussions. Now in the private sector, Mnuchin's Liberty Strategic Capital is investing $2.5 billion in startups focused on cybersecurity and fintech. He joined CNBC's TEC Summit on Nov. 15, 2022 with a wide-ranging discussion on geopolitical technology and finance issues. Steven Mnuchin, Liberty Strategic Capital Founder & Managing Partner and 77th US Secretary of TreasuryInterviewer: Melissa Lee, CNBC Host, "Fast Money" & "Options Action"

☆ U.S. Treasury's Yellen 'practiced and practiced' her signature for U.S. bills
▼ + stars: | 2022-12-01 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

[1/2] U.S. Treasury Secretary Janet Yellen holds a news conference in the Cash Room at the U.S. Treasury Department in Washington, U.S. July 28, 2022. REUTERS/Jonathan Ernst/File PhotoNEW YORK, Dec 1 (Reuters) - U.S. Treasury Secretary Janet Yellen said she "practiced and practiced" writing the signature that will soon adorn U.S. dollars in order to avoid the illegible scrawls of her predecessors Tim Geithner and Jack Lew. "I knew this was something you could really screw up and I wanted to get it right, and I practiced and I practiced," Yellen told CBS's late-night comedian Stephen Colbert on Wednesday. "I am going to see the first sheets of currency that have been printed with both of our names," Yellen said. Dollar notes have been printed since Yellen took office in early 2021 with former Treasury Secretary Steven Mnuchin's signature on them.

☆ Why the Fed may finally loosen its grip
▼ + stars: | 2022-12-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The Fed should be pleased that its aggressive rate hikes in the past few months are having their desired effect, and they can ease up a bit. After four giant three-quarter-point hikes in a row, all signs point to Fed Chair Jay Powell announcing a half-point bump later this month. BIG PICTUREIt’s taken most of the year, but the economy appears to have made it over the mountain of inflation and aggressive rate hikes, according to Peter Boockvar, chief investment officer at Bleakley Financial Group. But while 200,000 is nothing to sniff at, it’s still not soft enough for the Fed to pause its rate hikes. However, markets may cheer the fact that it’s low enough for the Fed to hike at a less aggressive pace than we’ve seen in recent months.

☆ Trump's former Treasury secretary calls G-7 Russian oil price cap ‘the most ridiculous idea I’ve ever heard’
▼ + stars: | 2022-11-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Mnuchin this week criticized the G-7's plan for a cap onFormer U.S. Treasury Secretary Steve Mnuchin described the G-7's plan for a price cap on Russian oil as "ridiculous." I think the problem now is that there's limited options ... there's parts of the world that are now buying Russian oil outside of U.S. sanctions," he said. "But look, a price cap, the market is going to set the price. As Europe seeks to wean itself off Russian oil and gas, Moscow has ramped up its sale of oil to countries including China and India. Energy analysts say it will be vital to get those countries' cooperation for any price cap to be effective, but it remains unclear how they will react to any final announcement.

☆ U.S. cannot ask OPEC+ to produce more oil 'when we aren’t doing it ourselves,' Mnuchin says
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. cannot ask OPEC+ to produce more oil 'when we aren’t doing it ourselves,' Mnuchin saysFormer U.S. Treasury Secretary Steven Mnuchin says the U.S. cannot turn to oil producer group OPEC+ and ask them to pump more “when we aren’t doing it ourselves.”

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