US Treasury Secretary to Head to Davos Even if Shutdown Continues

Treasury Secretary Steven Mnuchin is likely to lead the Trump administration’s delegation to the World Economic Forum in Davos even if the government remains closed when the conference starts later this month, according to senior administration officials.

However, Mnuchin will likely lead a smaller-than-expected group of administration officials to Switzerland if a large chunk of the government remains closed, the officials said, declining to be identified. The forum is scheduled for Jan. 22 to 25.

President Donald Trump told reporters Thursday he plans to go to Davos but would stay home if the shutdown continues. The loose contingency plans emerged as Trump and congressional Republicans battle Democrats over funding for the president’s proposed southern border wall. Trump has refused to sign bills to fund about a quarter of the federal government that do not include money to pay for the barrier.

“The shutdown determines everything” about who will go to Davos, a senior administration official told CNBC. The official declined to give more details.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza