A proposed emergency 401(k) withdrawal button used to potentially help Americans weather the coronavirus pandemic is not necessarily a good idea, Fox Business Network's Cheryl Casone said Friday. Among nonretired adults, 54% have some kind of defined-contribution plan, such as a 401(k) or 403(b), according to a Federal Reserve report last year. Casone said that she understood where the board was coming from, but that she doesn't want to see anyone touch their 401(k). Casone told the "Newsroom" hosts she believes the biggest concern this week was a "run on the banks." Thank you, Steve Mnuchin, for putting that in place to let folks kind of take a breath," Casone concluded.

Source: Fox News March 20, 2020 16:52 UTC