Mnuchin, McConnell Want to Tap Unused Fed Funds for Stimulus
- Proposal slammed by Biden’s transition as ‘irresponsible’
- Treasury chief makes bid to revive talks with Democrats
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Treasury Secretary Steven Mnuchin bid to revive stalled stimulus talks with congressional Democrats by proposing the use of untapped Federal Reserve relief funds as part of a new package of aid.
But Mnuchin’s plan to shutter a number of the Fed’s emergency-lending facilities ran into immediate opposition from Democrats. President-elect Joe Biden’s transition team slammed it as “deeply irresponsible,” and House Speaker Nancy Pelosi accused the Treasury secretary of trying to hobble the incoming administration.