Mnuchin News Gives Markets Jitters – 20 November 2020

The US Dollar briefly reversed course after Steve Mnuchin, the Secretary of the US Treasury, announced that the Federal Reserve Bank would return funds intended specifically for loans to various entities impacted by the Coronavirus. Analysts point out that, despite the intention to re-appropriate funds meant for CARES Act recipients, some market players worried that the moved signaled a move to end federal programs which were viewed as vital toward reassuring market participants. The concern now is that the unavailability of the loans in the event of another emergency could put additional pres…

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