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Elizabeth Warren grilled Treasury Secretary Mnuchin about the billions the Fed has injected into the market — and warned him against easing bank regulations
Oct. 22, 2019, 11:57 AM
Pablo Martinez Monsivais/AP
Sen. Elizabeth Warren sent a letter to US Treasury Secretary Steven Mnuchin on Friday warning him to not ease bank regulations following September's liquidity scare.
The Democratic primary front-runner asked Mnuchin what he thinks caused the spike in short-term lending rates, and why the Federal Reserve might continue with its capital injections when banks are bringing in record profits.
Though recent Fed actions have calmed the short-term rate, Warren said major banks' reliance on central bank intervention sets a dangerous precedent reminiscent of the Great Recession.
link to www.cnbc.com
Elizabeth Warren pushes Treasury Secretary Mnuchin for answers on overnight lending issues
Published Tue, Oct 22 201911:45 AM EDTUpdated 6 hours ago
Sen. Elizabeth Warren is pressing Treasury Secretary Steven Mnuchin for answers on recent events in the overnight lending, or repo, markets.
In a letter, the Democratic presidential candidate says she worries banks will use the issue as an excuse to get financial regulations eased.