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The US Treasury’s unnecessary fight with the Fed  Financial TimesView Full coverage on Google News
News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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Why do bondholders and leveraged speculators have to be enriched, instead of providing fiscal relief to the unemployed and small businesses? That’s the question.

The Mnuchin-Powell Affair over the Fed’s “Special Purpose Vehicles” in Dollars & Effects | Wolf Street

The emergency lending facilities slated for the scrap heap were among the most novel and controversial established last spring at the urging of lawmakers from both sides of the aisle in WashingtonThe emergency lending facilities slated for the scrap heap were among the most novel and controversial established last spring at the urging of lawmakers from both sides of the aisle in Washington

Fed faces ill political winds as Biden prepares for White House | Dhaka Tribune

U.S. Treasury Secretary Steven Mnuchin's decision to de-fund several Federal Reserve coronavirus lending programs on Dec. 31 is "deeply irresponsible," President-elect Joe Biden's transition team said on Friday, and threatens to undermine the country's fragile economic state. Ending support for Fed programs that "could be used for small businesses across the country when they are facing the prospect of new shutdowns is deeply irresponsible," Biden's camp said in a statement. Mnuchin surprised Fed officials on Thursday by demanding the return of unused funds set aside to support Fed lending to businesses, nonprofits and local governments.U.S. Treasury Secretary Steven Mnuchin's decision to de-fund several Federal Reserve coronavirus lending programs on Dec. 31 is "deeply irresponsible," President-elect Joe Biden's transition team said on Friday, and threatens to undermine the country's fragile economic state. Ending support for Fed programs that "could be used for small businesses across the country when they are facing the prospect of new shutdowns is deeply irresponsible," Biden's camp said in a statement. Mnuchin surprised Fed officials on Thursday by demanding the return of unused funds set aside to support Fed lending to businesses, nonprofits and local governments.

Mnuchin clawback of Fed funds 'deeply irresponsible,' Biden team says