Mnuchin Plans to Discuss ‘Targeted’ Aid Bill Friday With McConnell, Meadows, McCarthy

WASHINGTON—Treasury Secretary Steven Mnuchin on Friday defended his decision not to extend funding for several Federal Reserve lending facilities, calling on Congress to reappropriate the nearly $500 billion to help small businesses and unemployed workers.

The Treasury Department’s announcement Thursday that it would allow the funding to expire after Dec. 31 prompted a rare statement of objection from the Fed, which wants to maintain the lending programs as a backstop in the face of the continuing coronavirus pandemic.

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