WASHINGTON – Today, U.S. Treasury Secretary Steven T. Mnuchin convened a call of the President’s Working Group on Financial Markets to discuss recent market conditions and activity. The group shared updates on the resilience of the markets and the economic impact of COVID-19. This group includes a subset of the full FSOC. Participants on the call included Secretary Mnuchin, Board of Governors of the Federal Reserve System Chair Jerome Powell and Vice Chair Randal Quarles, Federal Reserve Bank of New York President John Williams, SEC Chairman Jay Clayton, CFTC Chairman Heath Tarbert, Comptroller of the Currency Joseph Otting, and FDIC Chairman Jelena McWilliams.
The FSOC will meet on March 23 for an open meeting to discuss similar issues.