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Mnuchin Makes Unprecedented Request to Fed

Secretary Mnuchin made an unprecedented request to the Fed.

Treasury Secretary Steven Mnuchin requested that the Federal Reserve return unused coronavirus stimulus funds.

In a letter to Fed Chairman Jay Powell on Thursday, Mnuchin said the central bank held some $455 billion from the COVID-relief package passed back in March. The Treasury Secretary asked Powell to return that money so Congress can spend it on additional relief measures.

 

“The liquidity and capital position of U.S. banks ensure that they can fulfill the financing requirements of their customers,” Mnuchin wrote in the letter. “In the most recent survey by the National Federation of Independent Business, only 2% of small and medium-size firms reported that all their borrowing needs were not satisfied.”

The Fed cut interest rates and expanded the balance sheet earlier this year to help the U.S. economy. Mnuchin added he will be able to help U.S. businesses without a new COVID-relief bill if the Fed returns its relief funds.

Sources: OANN: Secy Mnuchin Asks Fed To Return $455B Of COVID Relief Funds

What do you think?

Written by Joshua Jackson

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  1. SO PELOSI AND JOE CAN GET CREDIT FOR THE STIMULUS CHECKS! PLUS PELOSI WILL GET 3 TRILLION MORE FOR IMMIGRANT HOUSING AND WELFARE! SHE ALSO FEELS IMMIGRANTS SHOULD HAVE STIMULUS CHECKS! THIS COUNTRY WILL BE BANKRUPT WHEN THEY TAKE OVER! THEY WILL TAX AMERICANS FOR EVERYTHING, INCLUDING ASSETS! SENIORS WORKED HARD TO BE ABLE TO RETIRE, NOW THEY’VE RUINED SOCIAL SECURITY AND WANT THEIR I R A ACCOUNTS AS WELL! 2020 WILL BE NOTHING IN COMPARISON TO WHAT THESE CRIMINALS WILL DO! STAND TOGETHER AMERICANS! IF WE DONT PAY TAXES THEY’LL BE OUT OF A JOB!

    • I believe she’s just using the immigrants to say it’s for them but I’d bet every thing I own that they wouldn’t get a cent of it she’d steal it from them that’s how concerned she is about them they (democrats ) only want to stave them to death in concentration camps I don’t have one positive thing to say about that witch or any of the rest of them either

    • PELOSKI aka POLLOCK and BIDEN aka BLUNDER need to be put away in a MENTAL INSTITUTION for the DERANGED and DEPLORABLE LOW LIFE’S…

  2. These people cannot see the disaster they are causing unless they really want us to beg them for food .

  3. Now that is suspicious. Money left from the past trillion dollar stimulous? And that explanation just tells me it was left in one of those government buckets that should have drawn it down doing what it was intended for cause I know businesses, small ones, that were turned down for stimulous funds and others like the guy who is now an elected senator, Markie Boy, whose bueinss interests got their share and some. As a retired CPA I wonder at this in government who overspends, not underspends. WHY would be worth persuing for the ones overseeing this agency.

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