November 20, 2020

Mnuchin defends ending Fed emergency programs

Washington (AFP) – US Treasury Secretary Steven Mnuchin on Friday defended a decision to not continue a series of emergency lending programs after the Federal Reserve called for the initiatives to be extended.Mnuchin, appearing on CNBC, said Congress was “very clear” in its intent about the programs, calling for them to expire in December.The programs were enacted in the spring to boost liquidity amid turmoil in financial markets.But financial conditions today are “in great shape,” Mnuchin said. “When the emergency is over, let’s put them away.”On Thursday, Mnuchin notified Fed Chair Jerome Po…

source https://this.kiji.is/en/702559889432331361?c=648607265489716321

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