Joe Biden Steven Mnuchin Coronavirus Washington economy infection Department Joe Biden Steven Mnuchin Coronavirus Washington

Mnuchin denies he's trying to hinder incoming administration

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WASHINGTON – Treasury Secretary Steven Mnuchin denied that he is attempting to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve.Mnuchin said his decision was based on the fact that the programs were not being heavily utilized.

He said Friday that Congress could make better use of the money by re-allocating it in another direction to support grants to small businesses and extended unemployment assistance.“We're not trying to hinder anything,” Mnuchin said in a CNBC interview. “We don't need this money to buy corporate bonds.

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