Mnuchin Asks Fed to Return Unused Stimulus Funds to Treasury
Bloomberg
Published Nov 19, 2020 04:29PM ET
Updated Nov 19, 2020 04:45PM ET
Mnuchin Asks Fed to Return Unused Stimulus Funds to Treasury
(Bloomberg) -- Treasury Secretary Steven Mnuchin on Thursday said he had asked the Federal Reserve to return unused coronavirus stimulus money, rejecting the central bank’s request for a 90-day extension for four emergency lending programs.
All emergency programs created by the Cares Act, the stimulus President Donald Trump signed earlier this year, will expire by Dec. 31, Mnuchin said in a statement.
Fed Chairman Jerome Powell had requested an extension of the Commercial Paper Funding Facility, the Money Market Liquidity Facility, Primary Dealer Credit Facility, and the Paycheck Protection Program Liquidity Facility.
©2020 Bloomberg L.P.
Get The News You Want
Written By: Bloomberg
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.