Mnuchin Says Treasury, Fed Have ‘Plenty of Capacity Left’
- Treasury secretary asked Fed to return unused lending money
- Mnuchin’s move sparked backlash from Fed and outside critics
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Treasury Secretary Steven Mnuchin said his agency and the Federal Reserve have enough fire-power to continue to support the economy, a day after calling for several emergency lending programs to be sunsetted by the end of the year.
“Markets should be very comfortable that we have plenty of capacity left,” Mnuchin said Friday on CNBC. He said he was “merely, simply following the intent of the law. It was not a decision on whether we needed these or didn’t need this.”