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Millions more Americans will lose income in a few weeks, and Sec. Mnuchin’s move yesterday makes their lives and the US economy far worse. He forcibly removed tools the Fed has to help in an emergency. 1/6 https://www.politico.com/news/2020/11/19/mnuchin-cutting-coronavirus-aid-economy-438487
Mnuchin had been one of the few honest brokers of the Trump era, playing pivotal roles in bipartisan negotiations. But his move to cut off the Fed changes that. 2/6
These Federal Reserve programs had a stabilizing role to play. Removing them as UI payments are due to expire and the economy and country sink into the dark COVID winter is despicable. 3/6
Over and over we’re seeing the Trump Administration make conscious choices to put Americans and the American economy at risk simply to spite the incoming Biden administration. It’s galling and treasonous. 4/6
American businesses and the US economy need help and support to get through the next 6 to 12 months, depending on how quickly and equitably we can combat COVID-19 and distribute vaccines. 5/6
But shamefully that’s not the focus of the Trump administration and Secretary Mnuchin. They are acting to undermine a recovery, not support it by any means. 6/6
