Financial Times/James Politi and Eric Platt/11-21-2020
“The move by Mr Mnuchin jeopardized a very effective partnership with Mr. Powell that was crucial to securing a hefty US policy response to the coronavirus crisis early on.”
USAGOLD note: This article goes on to make a point that the Fed may not be at the ready should another round of financial crisis suddenly descend upon Wall Street and credit markets. In the wake of Mnuchin’s pulling of various credit facilities, corporate, state and municipal debt look particularly vulnerable – all areas of concern already high on investors’ worry lists.
