Treasury Secretary Steven Mnuchin, Kudlow to fulfill Trump term

Treasury Secretary Steven Mnuchin, Kudlow to fulfill Trump term

Treasury Secretary Steven Mnuchin will fulfill his term with the Trump administration, FOX Business has learned.

Mnuchin plans to focus on the “important work” that still needs to be done, according to sources close to the secretary. The U.S. economy shed 140,000 jobs last month, according to the latest jobs report released Friday.

White House economic adviser Larry Kudlow will also fulfill his term, FOX Business has confirmed. Kudlow’s status was first reported by CNBC.

The confirmation of the two comes as several of Trump’s cabinet members and close advisors resigned following the storming of Capitol Hill. Education Secretary Betsy DeVos the latest to turn in her papers, following Transportation Secretary Elaine Cho. Mick Mulvaney, Envoy to Northern Ireland, and Stephanie Grisham, former White House Press Secretary and chief of staff to the first lady, also resigned.

Mnuchin and Kudlow were key architects in the rapid shoring up of the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided American workers and businesses with fresh capital to keep going. This included the first round of $1,200 stimulus checks and PPP loans, followed by the second round of $600 checks cleared in late December giving struggling Americans another infusion of cold hard cash.

The two also worked closely with Fed Chair Jerome Powell, starting at the height of the pandemic which roiled financial markets, prompting policymakers to cut interest rates to near-zero to steady the U.S. economy and keep,liquidity flowing.