Mnuchin: We need congress to re-appropriate these funds, we could do $500B of stimulus
Comments from the Treasury Secretary:
- Markets should be very comfortable that we have plenty of firepower left
- Congressional intent was that facilities should expire
- We need congress to re appropriate these funds, we could do $500B of stimulus
- Parts of the economy are roaring back but a lot of people are still struggling
- We will be redoubling our efforts to try to get something done (on stimulus)
- We want to spend this money
- We want to get a targeted bill done for the people who really need it
The story here is that the administration wants to spend this money, so while some spare monetary power is lost, there are higher odds of fiscal spending. Ultimately, that's risk-positive.
The negative is that he's only mentioning small business giveaways, which would be tough for Democrats to agree to.