Economy

The Fed and the Treasury are butting heads over more emergency relief at a time when spiking virus cases make cooperation more important than ever

8 days ago   |   By Business Insider

Summary List Placement
The two officials leading the government's response to the coronavirus recession squared off on Thursday over cash remaining in several emergency lending facilities.
Treasury Secretary Steven Mnuchin said late Thursday that he won't renew the majority of lending programs when they expire at the end of the year. The facilities, established in collaboration with the Federal Reserve, should return unused cash to the government, he said in a letter to Fed Chair Jerome Powell.
"While portions of the economy are still severely impacted and in need of additional fiscal...
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