Mnuchin urges GOP senators to trust Federal Reserve and Treasury’s future

Treasury Secretary Steven Mnuchin asked Republican senators to keep their faith in the future of the Treasury Department and the Federal Reserve when he leaves his post.

Mnuchin asked lawmakers to trust the agencies’ ability to manage coronavirus relief programs shortly after he faced criticism from President-elect Joe Biden and Democrats for letting federal coronavirus lending programs expire, according to Reuters.

His move limits the ability of Treasury secretary nominee Janet Yellen and the incoming Biden administration to deploy $455 billion in borrowed cash meant for the coronavirus pandemic without congressional approval.

“It is my hope that, because of
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