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When There's A Financial Crisis, Who You Gonna Call? The President's Working Group on Financial Markets

I haven't heard ot this government organization before and I believe a lot of people haven't either, so what is this Working Group and what do they do exactly?

US Treasury secretary Steve Mnuchin announced this weekend that he would be convening the President’s Working Group on Financial Markets for a call today (Dec. 24) to discuss the volatility that has plagued markets in recent weeks.
The official line on the working group is almost staggeringly unsexy: it’s a Reagan-era initiative connecting Wall Street and Washington to work on issues affecting the market.

At least, we can glean that much from what it's called but it was actually created to perform three clear jobs which can be summarized thus: identify, consult, and report. Simple enough though because of its secretive nature, there have been conspiracy theories about it.

Read more on Quartz.

(Image credit: Wikimedia Commons)


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