Fate Of Pandemic Funds Sparks Unusual Dispute Between Treasury And Federal Reserve

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Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin bump elbows at the conclusion of their testimony before Congress on June 30, 2020. The Fed and Treasury are engaging in a rare clash over the fate of key pandemic lending programs.

The Fed is pushing back against a request from Treasury to wind down emergency lending programs set up in the wake of the coronavirus.

(Image credit: Tasos Katopodis/AP)