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Mnuchin Wants $580 Billion Injected Into Slowing U.S. Economy

  • Treasury secretary asked Fed to return unused lending money
  • Fed pushed back, saying lending programs serve vital role
Bloomberg business news
Mnuchin, Powell Clash Over Emergency Lending as Economy Struggles
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Treasury Secretary Steven Mnuchin said that lawmakers should redirect unspent stimulus funding, including money he’s pulling back from the Federal Reserve, to buoy the economy as the U.S. waits for a coronavirus vaccine.

“I hope that Congress will seriously consider reallocating $580 billion of funds that have already been appropriated that wouldn’t cost taxpayers an additional penny,” he said in a phone interview on Thursday.