Mnuchin Asks Fed to Return Unused Stimulus Funds to Treasury

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(Bloomberg) — Treasury Secretary Steven Mnuchin on Thursday said he had asked the to return unused stimulus money, rejecting the central bank’s request for a 90-day extension for four emergency lending programs.

All emergency programs created by the Cares Act, the stimulus signed earlier this year, will expire by Dec. 31, Mnuchin said in a statement.

Chairman Jerome Powell had requested an extension of the Commercial Paper Funding Facility, the Money Market Liquidity Facility, Primary Dealer Facility, and the Paycheck Protection Program Liquidity Facility.

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Source: Investing.com

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