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Steve Mnuchin Talks Economic Rebound, Federal Reserve

U.S. Secretary of Treasury Steve Mnuchin On CNBC's "Squawk On The Street" discussed the economic rebound and steps the Federal Reserve and Congress need to approach. Here are some of the highlights:

· 11/20/2020 09:41

U.S. Secretary of Treasury Steve Mnuchin On CNBC's "Squawk On The Street" discussed the economic rebound and steps the Federal Reserve and Congress need to approach. Here are some of the highlights:

  • Mnuchin: People Are Missing Issue In Criticizing Decision On Fed
  • It Was Clear That Congressional Intent Was That Fed Reserve Lending Facilities Should Expire At End Of Dec.; Says We Only Have $25B In Loans Outstanding; Says 'We Need Congress To Reappropriate These Funds'
  • 'We Have Plenty Of Firepower Left,' Says Parts Of Economy Are 'Roaring Back,' But A Lot Of People Are Still Struggling; Says Markets Should Be Comfortable That We Have Plenty Of Capacity Left
  • Treasury Has Over $800B In Outstanding Capacity, That's A 'Pretty Good Bazooka'
  • This Is A Success Story, Look At Where The Markets Are Now Vs March
  • The Medical Emergency May Not Be Over, But On Financial Emergency Says 'Conditions Are In Great Shape'
  • Intent Of The Law Was Very Clear That Funds Would Expire, Says Let's Use The Money To Help Small Businesses That Need It