US Treasury Sec. Mnuchin: We have plenty of firepower left
US Treasury Sec. Mnuchin: We have plenty of firepower left
Biden to announce treasury secretary choice 'soon'
20 November, 2020, 23:43
A senior Democratic aide told Reuters there had been a mid-afternoon meeting on Thursday among congressional aides that discussed coronavirus relief and efforts to pass a $1.4 trillion bill to keep government agencies operating beyond December 11 when current funding expires.
"The Fed has been one of the only sources of stability in Washington and removing its latitude to offer support in a shaky recovery is simply nonsensical", said Isaac Boltansky, director of policy research at Washington-based Compass Point Research & Trading. "As such, I am requesting that the Federal Reserve return the unused funds to the Treasury".
Some of these were backed by funds from the $2.2 trillion CARES Act authorized by Congress, including programs targeted at the corporate credit market, municipal lending and small and medium-enterprises through the Main Street Lending Program. It is unclear whether this move will increase pressure on Congress to provide more economic relief. "A surprise termination of the Federal Reserve's emergency liquidity program, including the Main Street Lending Program, prematurely and unnecessarily ties the hands of the incoming administration and closes the door on important liquidity options for businesses at a time when they need them most", said Neil Bradley, the chamber's executive vice-president, in a prepared statement.
"The Fed will be strongly committed to using all of our tools to support the economy for as long as it takes until the job is well and truly done", he said.
These are the programs Mnuchin said would not be extended after the end of the year, and requested that the Fed return $455 billion in unused funds allocated for them.
However, Republican Sen. Pat Toomey of Pennsylvania said in a statement that he approved of Mnuchin's decision.
People are missing the issue in criticizing their decision on the Federal Reserve's lending facilities, US Treasury Secretary Steven Mnuchin told CNBC on Friday, as reported by Reuters.
"These facilities ... have successfully achieved their intended goal", he said.
But Democrats have urged the opposite, calling on the central bank to make the loan terms more generous as the darkening financial outlook for many companies and municipalities heightens the risk that even more Americans will be put out of work. Elizabeth Warren (D-Mass.) who now sits on an oversight panel for these emergency programs.
"Luckily, whatever the Trump Treasury does, the Biden Administration has the authority to ask the Fed to restart these lending programs next year", he added.
Mnuchin wrote that these Fed programs supported by the Treasury have "clearly achieved their objective", adding that markets have responded positively and banks have been able to continue lending.
Investor sentiment was also affected by data that showed COVID-19 hospitalisations across the United States jumped by almost 50% in the last two weeks, threatening the recovery of the world's largest economy as cities and states began to impose lockdowns.
The Phase III trials of the ChAdOx1 nCov-2019 vaccine are ongoing, with early efficacy readings possible in the coming weeks. Oxford scientists have worked in tandem with UK-based biopharmaceutical giant AstraZeneca on their vaccine.
The photograph, which was taken by Chris Jackson from Getty Images, also shows a pile of anniversary cards sent by well-wishers. Queen Elizabeth and Prince Philip shared a new photograph on Thursday to celebrate their 73rd wedding anniversary.
The new data showed the vaccine was generally well tolerated, with most side-effects short-lived and either mild or moderate. US COVID-19 vaccine programme head Moncef Slaoui said there will not be any constraints on who gets what vaccine .
The beloved actor passed away in 2013, but his presence was surely felt among the group who spoke fondly of their time together. Smith responded that he could see the "level of pain and the level of struggle" Hubert went through.
South Dakota led the U.S. in new cases and deaths per capita last week, but the governor, Republican Kristi L. The state health department reports 20 percent of hospital beds are now occupied with COVID-19 patients.
The experts found some patients still had Covid antibodies and the immune cells that make them six to eight months later. Another study from researchers at the University of Washington indicates that immunity lasts for at least three months.
Ms Patel has expressed concern at the "false" claims, and allies have described her as a "demanding" boss but not a bully. But the government said the prime minister had "full confidence" in Patel and "considers this matter now closed".
They were announced as a "Day One" product, made in limited quantities and only available via a special invitation. Amazon says it's 50 percent more powerful than the previous-gen stick, which means faster streaming in Full HD.
When will we know if the Oxford vaccine works?
These antibodies that block the virus from entering cells can be measure in the lab, Ramasamy explained. The symptoms were also similar to those seen in a flu vaccine, including tiredness and headache.
Iconic Arecibo telescope in Puerto Rico will be decommissioned
It has been used by scientists to observe deep-space objects, including the first planet discovered outside of our solar system. The National Science Foundation says it is shutting down the Arecibo Observatory in Puerto Rico due to safety concerns.
Gordon Hayward has a call to make on future with Celtics
Hayward's decision could come sooner rather than later with National Basketball Association free agency beginning on Friday. Boston Celtics wing Gordon Hayward will opt out of the final year of his deal, according to The Athletic's Shams Charania .
COVID-19 cases in Calgary as of November 12
Alberta has confirmed 773 new cases of COVID-19 and five additional deaths within the province. There are 268 people in hospital, up four from Monday, and 57 people are in intensive care.
First Trailer for Chaos Walking Released
It's taken them a long time to get this movie to the big screen, but it looks like it's finally coming (if COVID-19 will let it). Chaos Walking also features Mads Mikkelsen , Cynthia Erivo , Nick Jonas , David Oyelowo , Demián Bichir and Kurt Sutter .