--- title: Mnuchin Calls Bank CEOs Amid Wall St. Unease description: Treasury Secretary Steven Mnuchin called the CEOs of six major banks Sunday in an apparent attempt to reassure jittery financial markets. canonical: https://time.com/5487918/treasury-secretary-mnuchin-bank-ceos-wall-st-unease/ author: TIME Staff article:opinion: false article:content_tier: free article:published_time: 2018-12-24T17:06:47.000Z article:modified_time: 2026-02-23T22:21:04.100Z article:section: Politics og:title: Treasury Secretary Mnuchin Calls Bank CEOs Amid Wall St. Unease og:description: Worries about slowing economic growth saddled the U.S. market with its worst week in more than seven years og:url: https://time.com/5487918/treasury-secretary-mnuchin-bank-ceos-wall-st-unease/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt7c137d8031e68627/69894238ab6d7778e06b481a/GettyImages-1052294134.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 og:image:width: 1024 og:image:height: 576 og:image:alt: Treasury Secretary Steven Mnuchin Speaks At Meeting Of The Financial Stability Oversight Council og:type: article twitter:card: summary_large_image twitter:title: Treasury Secretary Mnuchin Calls Bank CEOs Amid Wall St. Unease twitter:description: Worries about slowing economic growth saddled the U.S. market with its worst week in more than seven years twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt7c137d8031e68627/69894238ab6d7778e06b481a/GettyImages-1052294134.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 ---  # Treasury Secretary Mnuchin Calls Bank CEOs Amid Wall St. Unease > Sponsored content. 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It explains the politics, personalities and power dynamics behind the headlines, three times a week. #### Where can I get analysis of Washington politics by email? D.C. Brief is TIME's free Washington politics newsletter, available at time.com/newsletters. It is written by a TIME senior correspondent who covers the capital full time. #### Who writes TIME's D.C. Brief? Philip Elliott, a senior correspondent at TIME, writes D.C. Brief. #### Is D.C. Brief free? Yes. D.C. Brief is free at time.com/newsletters. by [TIME Staff](https://time.com/author/time-staff/) ## TIME Staff Dec 24, 2018 5:06 PM UTC  U.S. Secretary of the Treasury Steven Mnuchin listens during a Financial Stability Oversight Council meeting October 16, 2018 at the Treasury Department in Washington, DC. U.S. Secretary of the Treasury Steven Mnuchin listens during a Financial Stability Oversight Council meeting October 16, 2018 at the Treasury Department in Washington, DC. Alex Wong—Getty Images by [TIME Staff](https://time.com/author/time-staff/) ## TIME Staff Dec 24, 2018 5:06 PM UTC WASHINGTON — U.S. Treasury Secretary Steven Mnuchin called the CEOs of six major banks Sunday in an apparent attempt to reassure jittery financial markets coming off a turbulent week in the stock market that is now bracing for potential repercussions from a partial shutdown of the U.S. government. In an unusual move, Mnuchin disclosed the calls with the heads of Bank of America, Citi, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo in a [tweet](https://twitter.com/stevenmnuchin1/status/1076958380361543681) about the private conversations. Mnuchin said the CEOs all assured him they have ample money to finance all their normal operations, even though there haven’t been any serious liquidity concerns rattling the market. Worries about slowing economic growth and rising interest rates [saddled the U.S. market with its worst week in more than seven years](https://apnews.com/ce565c1cf85941b69386bce68ceab97d). Barring a turnaround, stocks are now headed for their single worst month since October 2008, when the market was being battered by the global financial crisis. That crisis was triggered by a reckless lending spree that prompted a taxpayer-backed bailout of several U.S. banks. But the circumstances are dramatically different now that the U.S. economy has been growing steadily since 2009\. Most experts believe the growth will continue in the U.S., but there are signs things are slowing down in Europe and China. Dysfunction in Washington isn’t helping the situation, with a budget impasse between President Donald Trump and Congress triggering a partial U.S. government shutdown that could last into the new year. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5487918/treasury-secretary-mnuchin-bank-ceos-wall-st-unease/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5487918/treasury-secretary-mnuchin-bank-ceos-wall-st-unease/"},"headline":"Treasury Secretary Mnuchin Calls Bank CEOs Amid Wall St. Unease","datePublished":"2018-12-24T17:06:47.000Z","dateModified":"2026-02-23T22:21:04.100Z","description":"Worries about slowing economic growth saddled the U.S. market with its worst week in more than seven years","url":"https://time.com/5487918/treasury-secretary-mnuchin-bank-ceos-wall-st-unease/","keywords":[],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt7c137d8031e68627/69894238ab6d7778e06b481a/GettyImages-1052294134.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"TIME Staff","jobTitle":null,"url":"https://time.com/author/time-staff/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt7c137d8031e68627/69894238ab6d7778e06b481a/GettyImages-1052294134.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Treasury Secretary Steven Mnuchin Speaks At Meeting Of The Financial Stability Oversight Council","caption":"Treasury Secretary Steven Mnuchin Speaks At Meeting Of The Financial Stability Oversight Council","creditText":"Alex Wong—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/5487918/treasury-secretary-mnuchin-bank-ceos-wall-st-unease/","name":"Treasury Secretary Mnuchin Calls Bank CEOs Amid Wall St. Unease"}}]}] ```