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A federal watchdog is looking into former Treasury Secretary Steven Mnuchin’s decision to roll back the U.S. Federal Reserve’s emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress.
February 2 -
The Federal Reserve has returned about $42 billion to the U.S. Treasury, and will soon transfer another $20 billion in excess funds connected to emergency lending facilities that stopped offering new loans last month.
January 7 -
The Federal Reserve said Friday it would comply with a Treasury Department request to return unused funds meant to backstop five emergency lending programs, moving to tamp down a public rift that arose a day earlier.
November 20 -
Analysts, issuers and lawmakers have mixed responses to the closure of the Municipal Liquidity Facility with some saying the move puts the municipal market in a precarious spot as COVID-19 continues to ravage the country.
November 20 -
While the facilities' availability inspired market confidence, the fact that $455 billion remains unused suggests shutting down the programs is unlikely to cause major problems, analysts say.
November 20 -
Treasury Secretary Steve Mnuchin told Fed Chair Jerome Powell to end most emergency lending programs created earlier this year, including the MLF, on Dec. 31.
November 19 -
The request for a second municipal lending facility was made in a bipartisan letter sent to the Fed last week by four senators.
May 19 -
Treasury Secretary Steven Mnuchin warned that the U.S. government will face a default in “late summer” unless Congress increases the debt ceiling.
May 22 -
Federal Reserve Chairman Jerome Powell’s dinner on Monday with President Donald Trump was “casual” and “productive,” and may happen again, Treasury Secretary Steven Mnuchin said.
February 6 -
President Trump expressed confidence in the Treasury secretary, Federal Reserve and U.S. economy on Tuesday.
December 26