U.S. Treasury Secretary: "No Plans to Purchase Bitcoin with Taxes"

# Steven Mnuchin Discusses U.S. Economy, Bitcoin, and Trade Policies on CNBC Steven Mnuchin, who served as Treasury Secretary during Donald Trump's first term, recently appeared on CNBC to discuss various topics related to the U.S. economy, according to Cryptopolitan on the 12th. He assessed concerns over a recession as exaggerated and shared his perspectives on Bitcoin, trade policies, and the strong dollar policy. Mnuchin criticized the recent discourse on economic recession as overstated. "I don't agree with the notion that the U.S. is heading towards a recession," he stated. He added, "The corrections in the S&P 500 index and Nasdaq index are natural occurrences and should not be seen as indicators of an economic crisis." He also disagreed with former Treasury Secretary Larry Summers, who predicted a 50% chance of recession for the U.S. economy. # Skeptical View on Bitcoin Mnuchin disclosed that he has never personally invested in Bitcoin, expressing concerns about the transparency and illicit financing issues in the cryptocurrency market. "I do not view Bitcoin as a long-term asset," he said, adding, "I prefer stocks that generate profits." Regarding the possibility of the U.S. government purchasing Bitcoin, he mentioned, "There are no plans to buy Bitcoin with taxpayers' money." # Discussion on Trump's Trade Policies and Strong Dollar Mnuchin defended Trump's trade policies, emphasizing that tariffs play a crucial role in bringing negotiating counterparts to the table. "Additional tariffs may be necessary as China has not adhered to the Phase One trade agreement," he remarked. He also projected that Trump's trade policies would have a positive long-term impact on the U.S. economy. On the strong dollar policy, Mnuchin emphasized that "a stable dollar is more important than a strong dollar," asserting that the dollar remains the world's most trusted currency. He added, "The dollar will maintain its status as the reserve currency for the next 10 to 20 years." Mnuchin's comments have garnered significant attention from Wall Street and investors, underscoring the continued relevance of his insights on the economy and financial markets.