Secretary Mnuchin was on CNBC this morning emphasizing that the Lending Facilities (which have expired) were a “great success!” Everytime I hear that phrase I can’t help but think of Borat!
Secretary Powell is 100% correct – and the actions he took along with Congress and Fed Chair Powell in March – saved the Country from a Great Depression. They will go down among the best public officials in history.
Secretary Mnuchin made a key point in his interview this morning that there is $500B left over (from the expired lending facilities) that can be IMMEDIATELY given to Small Business and the Unemployed – WITHOUT COSTING THE TAXPAYER ANOTHER PENNY.
What is Congress waiting for? Re-Allocate the $500B today and fight for a bigger package after the GA runoff (or in February). Listen to Secretary Mnuchin’s great interview with Jim Cramer here:
