Steven Mnuchin: “We never said we were in favor of Glass-Steagall. We said we were in favor of a 21st century Glass-Steagall.”

The reforms would standardize the approach to capital regulation, improve the quality and consistency of bank capital requirements, and level the playing field for U.S. banks.

There is simply no justification or justifiable reason to take these tools away, with the pandemic crisis worse than it has been.

I don’t think we’re going to have a recession. I don’t think the outlook looks like we’re going to have a recession.

I don’t think anybody should look at what’s a natural, healthy correction of these indexes as indicating that the economy’s in trouble.