Steven Mnuchin, the former Treasury Secretary under Donald Trump in his first term, is no longer in Washington. Yet, as markets bid bye to trillions of dollars and investors blame Trump 2.0, many on Wall Street wish he was still in by the president’s side.

Former Treasury Secretary Steven Mnuchin said that the market may be "overreacting a bit" to policies rolled out by the new Trump administration.

Former Treasury Secretary Steven Mnuchin discounted risks of a US recession, and played down the current selloff in equities as an adjustment, in a market that had been highly valued, to President Donald Trump’s aggressive trade tactics.

Former Treasury Secretary Steven Mnuchin said investors should not overreach as the current downturn in equities “makes sense” while he does not see a recession happening. “We came in with the market being fully priced,