Treasury’s Mnuchin Defends Ending Lending Programs, Fires Back at Federal Reserve

Washington Post, Nov. 20, 2020–Jeff Stein, Rachel Siegel
Treasury Secretary Steven Mnuchin on Friday defended his decision to end several emergency Federal Reserve lending programs, arguing the funding should be redirected toward more distressed parts of the U.S. economy. The central bank sharply condemned Mnuchin’s decision in an extraordinary rebuke Thursday that revealed a rift between Mnuchin and Federal Reserve Chair Jerome H. Powell.