Fed and US Treasury in public dispute over emergency aid
Fed disagrees with Treasury secretary over proposal to end five stimulus programmes
The Federal Reserve has taken the extraordinary step of publicly dissenting from a request by the US Treasury Secretary to end its emergency programmes.
Steven Mnuchin, Treasury secretary in the administration of president Donald Trump, sent a letter to the Fed’s chair Jerome Powell on November 19 in which he rejected the US central bank’s proposal to extend five emergency programmes activated in response to the Covid-19 pandemic. Mnuchin also requested the reimbursement of $455 billion in
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