Steve Mnuchin Pretends To Understand The Yield Curve On Live Television

No worries, the guy who couldn't hack it as a legacy hire at Goldman Sachs is sure the thing he doesn't really understand is not a problem.

We've been watching and listening to respected economists debate the deeper meaning of the flattening yield curve for months now, and it can be pretty boring to deal with these abacus jockeys as they drone on ad nauseum about interest rates and Treasury debt signaling the looming economic apocalypse.


All these Chicken Littles running around pointing at data and bickering over the relative badness of some macro indicator is a total bummer and runs the risk of making it hard to enjoy this illogically potent bull market. So thank Yeezus that we have a guy running the actual Treasury Department with no advanced academic degree and a financial career characterized by intellectual mediocrity who can set us straight on what the flattening yield curve actually means.

"I, for one, am not at all concerned about the yield curve. I don't think that's a predictor of economic growth," Mnuchin said Tuesday on CNBC's "Squawk Box." "I think it's a market condition, and for now having a flat yield curve with us issuing long-term debt is something we're perfectly content with."

See? Nothing to see here! All is well, so don't worry about excessive government borrowing and nervous nerdy economists because the guy who invested money in the Adam Sandler vehicle "Blended" is pretty sure he probably knows what he's talking about.

Mnuchin says he's 'perfectly content' with what many see as a red flag on the economy [CNBC]


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