Mnuchin denies he’s trying to hinder incoming administration

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin is denying that he is trying to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said Friday that his decision was based on the fact that the programs were not being heavily utilized and the money could be better used to grants for small businesses and extended unemployment assistance. However, critics saw politics at play in Mnuchin’s decision, saying the action would deprive the incoming administration of critical support the Fed might need to prop up the economy at a time when coronavirus cases are surging again.