"We see no need for any intervention in the markets," Mnuchin told reporters after a U.S. House Appropriations Committee hearing, noting that the Federal Reserve had already put liquidity into the market.

"The Fed has already acted significantly in putting lots of liquidity into the market," he said, adding that he was in daily contact with Federal Reserve Chair Jerome Powell.

The Fed has already put more liquidity into the banking system by increasing its daily cash injections into short-term money markets to ensure an ample supply of bank reserves.