Comments from Mnuchin
- There is no plan for 50-year bond
- Will borrow across the curve for coronavirus
- Over 30,000 people have signed up for small-business loans
- Actively working on Main Street lending facility with Fed, hope to have announcement this week
- Economy opening will be based on medical conditions
The $350B small business lending program will undoubtedly run out of money, because it's not a loan, it's a giveaway and free money is very popular. There was talk about tacking on $200B in a quickie bill in Congress but there are now signs that Democrats want a bigger bill that will include things like one-time bonuses for front-line workers.
