News | 03.16.20
White House Seeks Financial Crisis-Era Powers to Buttress Economy
Treasury Secretary Steven Mnuchin said on Sunday that he would ask Congress to reinstate powers that were used during the 2008 financial crisis to support the economy during the current crisis. “Certain tools were taken away that I'm going to go back to Congress and ask for,” Mnuchin said in an interview, referring to regulations that were imposed by Dodd-Frank. The law, among other things, took away Treasury's ability to use a program, known as the Exchange Stabilization Fund, to guarantee money market funds.
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