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Steven Mnuchin’s legacy for Fannie Mae and Freddie Mac
Treasury Secretary Steven Mnuchin will leave office soon, and the clock is ticking on getting Fannie Mae and Freddie Mac out of conservatorship. This is a time for Mnuchin to look back at his legacy, and for Fannie Mae and Freddie Mac, to decide whether he wants to align himself with the perjury that has gone before or whether he wants to be part of the solution to the nation’s housing finance problems. Q3 2020 hedge fund letters, conferences and more Supreme Court to hear case about Fannie Mae, Freddie MacThe Supreme Court will take up one of the cases involving Fannie Mae and Freddie Mac sta...
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Coronavirus relief funds clawed back from Fed put out of Yellen’s reach
President-elect Joe Biden has chosen former Federal Reserve Chairperson Janet Yellen to be his Treasury secretary, and current Treasury secretary Steven Mnuchin wants to put the rest of the coronavirus relief funds just out of her reach. Mnuchin pulled the plug on $455 billion in unused coronavirus relief funds, clawing it back from the Fed, and Yellen could be expecting to put that money to use when she takes office.Q3 2020 hedge fund letters, conferences and moreCoronavirus relief funds put out of Yellen's reachThe coronavirus funds were earmarked for pandemic-related lending programs under ...
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Mnuchin Declines to Extend Main Street Lending Program: Commentary
Treasury Secretary Steven Mnuchin asked the Fed to continue for another 90 days programs that provided short-term “commercial paper” loans to businesses, as well as another for money market functioning and a backstop related to the Paycheck Protection Program. However, Mnuchin also asked that other programs that were supported by Treasury capital come to an end for now. They include two facilities that bought corporate bonds as well as the Main Street Lending Program, which was targeted towards small- and medium-sized businesses.Q3 2020 hedge fund letters, conferences and moreAs the COVID-19 p...
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Mnuchin defends move to end Fed lending programs
Treasury Secretary Steven Mnuchin has raised the ire of the Federal Reserve by pulling the plug on several lending programs rolled out due to the COVID-19 pandemic. Mnuchin sent a letter to Fed Chairman Jerome Powell on Thursday asking the central bank to return unused funds that were earmarked for the pandemic-related lending programs.Q3 2020 hedge fund letters, conferences and moreMnuchin pulls the plug on Fed lending programsThe $455 billion in unused funding is set to expire Dec. 31. Mnuchin is pulling the plug on the Fed lending programs early and said in the letter that Congress will the...
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Coronavirus stimulus checks: Lawmakers hopeful on deal once election pressure eases
It is now almost confirmed that there won’t be any stimulus before the election. However, lawmakers are optimistic that there will be an agreement on a coronavirus stimulus package and checks once the election pressure eases.Q3 2020 hedge fund letters, conferences and moreLawmakers expect coronavirus stimulus checks in lame-duck sessionTreasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi have been negotiating on a relief package for the past few weeks. However, this week the two stopped talking again and are blaming each other for the impasse.Many lawmakers believe that such reluct...
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All Eyes On The Ongoing Stimulus Negotiations In Washington
Commenting on the ongoing stimulus negotiations and today’s trading Gorilla Trades strategist Ken Berman said:Q2 2020 hedge fund letters, conferences and moreMajor Indices Gain With All Eyes On The Ongoing Stimulus NegotiationsThe major indices are sporting modest gains at midday following another very active morning session on Wall Street, with all eyes on the ongoing stimulus negotiations in Washington. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi continue to push for a last-minute compromise following yesterday’s roughly $1.7 trillion counter-proposal from the Republican...
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Mnuchin Hopeful For A Financial Aid Package Deal
*CNBC Transcript: CNBC’s becky quick interviews United States Treasury Secretary [Steven Mnuchin](https://www.valuewalk.com/2020/09/mnuchin-oracle-bid-tiktok-coronavirus-stimulus/) from CNBC Institutional Investor Delivering Alpha Conference discussing that we see another financial aid package\.*Q2 2020 hedge fund letters, conferences and moreWHEN: Today, Wednesday, September 30WHERE: CNBC’s “Squawk on the Street”Following is the unofficial transcript of a CNBC interview with United States Treasury Secretary Steven Mnuchin live from the CNBC Institutional Investor Delivering Alpha Conference o...
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Coronavirus stimulus checks: Will there be a deal now? Pelosi optimistic
It was reported last week that House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have agreed to resume negotiations. On Sunday, Pelosi expressed optimism that they would reach a deal on a coronavirus relief package that many expect to include stimulus checks of $1,200.Q2 2020 hedge fund letters, conferences and moreCoronavirus stimulus checks: Pelosi hopeful on agreementLast week, both Mnuchin and Pelosi confirmed the reports that they would resume negotiations on the next relief package.“I've probably spoken to Speaker Pelosi 15 or 20 times in the last few days ... and we've ag...
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Will Lagarde and Mnuchin Push Gold Higher?
The ECB held its monetary policy stance steady. Meanwhile, the U.S. fiscal deficit reached its all-time high. What does it all mean for the gold prices?Q2 2020 hedge fund letters, conferences and moreOn Thursday, the members of the Governing Council of the ECB met together to undertake monetary policy decisions. They decided to leave the interest rates and the conditions of the quantitative easing unchanged. This lack of action was widely expected, so attention shifted to the fresh economic projections and the Lagarde’s press conference. Importantly, the ECB lifted its growth forecast for 2020...
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Coronavirus stimulus checks: Not the time to worry about deficit, Mnuchin says
Its now almost mid-September and we still don’t have any clear idea on when (or if) there will be another round of stimulus checks. Democrats want a bigger package, but Republicans are hesitant to offer a lofty stimulus. One reason for the difference between the two sides is the rising fiscal deficit. Treasury Secretary Steven Mnuchin, however, wants lawmakers to come up with a coronavirus stimulus package and checks without worrying about the deficit.Q2 2020 hedge fund letters, conferences and moreDeficit must not stop coronavirus stimulus checksDemocrats want a stimulus package of about $2.2...
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