Mnuchin defends shut down of Fed emergency loan programs
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December 2, 2020
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging.
Democrats were unconvinced, however, saying that Mnuchin's actions are politically motivated and intended to remove tools that the Biden administration could use to support the economy.
Mnuchin argued that the programs he decided not to extend into next year were being lightly utilized. He said the $455 billion allocated for those Fed loan programs could be better used elsewhere if Congress moved the funds...
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