Treasury moves to end several crisis-era programs, drawing pushback from the Fed
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(Worthy News) – The Treasury Department is looking to extend a handful of the Federal Reserve programs used to get markets through the early days of the coronavirus crisis but is going to end several others that expire at the end of the year.
The move drew a swift rebuke from the Fed, which wanted to continue the programs.
Among those that Treasury Secretary Steven Mnuchin asked the Fed to continue for another 90 days are programs that provided short-term “commercial paper” loans to businesses, as well as another for money market functioning and a backstop related to the Paycheck Protection Program. [ Source: CNBC (Read More…) ]
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