Thursday, 19 November 2020 09:44 PM
Treasury Secretary Steven Mnuchin said lawmakers should redirect unspent stimulus funding, including money he is pulling back from the Federal Reserve, to buoy the economy as the U.S. waits for a coronavirus vaccine.
"I hope that Congress will seriously consider reallocating $580 billion of funds that have already been appropriated that wouldn't cost taxpayers an additional penny," he said in a phone interview Thursday.
Earlier in the day, Mnuchin requested the return of unused funds from the Fed's emergency pandemic lending program, triggering pushback from the central bank, which said the programs served a vital role.
The U.S. economy had a "strong" recovery after a partial shut down this spring due to the pandemic, Mnuchin said in the interview. Companies with healthy balance sheets can access money through private markets, he noted.
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https://www.newsmax.com/us/treasury-congress-cares-act-stimulus/2020/11/19/id/997951/
