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Jeanna Smialek
jeannasmialek
Monroe Gamble was the @sffed first-ever Black research assistant. In 2018. That wasn't a one-off. Black economists and RA's are a rarity across the Fed system, I learned from data
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Sec. Mnuchin isn't *just* not extending these. He's asking the Fed to give the money back. That matters hugely, because the $454 billion pot from CARES cannot make new loans.
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Let's talk about what is going down here. My friend @arappeport and I wrote last week that Treasury might try to kill the novel Fed facilities. Now it is. (1/)
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Guys, I know we do not care about Fed news today. But this 13-3 loan program extension is about to be drama. A bunch of CARES-backed programs expire 12/31 (the
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