Mnuchin denies trying to limit Biden's economic options

Saturday, 21 November 2020Newsdesk

Treasury Secretary Steven Mnuchin denied on Friday that he is attempting to limit President-elect Joe Biden's options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve.

New Delhi, 21 November 2020

As per news report of PTI, Mnuchin said the programs were not being heavily utilized and Congress can make better use of the money by re-allocating it toward small-business grants and extended unemployment assistance. We're not trying to hinder anything, Mnuchin said in a CNBC interview. We don't need this money to buy corporate bonds. We need this money to go help small businesses that are still closed. Mnuchin has argued that the decision will allow Congress to re-appropriate 455 billion to other coronavirus programs.

Source -PTI