White House Economic Advisor Larry Kudlow said Friday that the Trump administration strongly supports restrictions on the use of Treasury funds by the Federal Reserve for emergency loan programs, as reported Reuters.
Trump will “go with” US Senate Majority Leader Mitch McConnell on the coronavirus relief bill, Kudlow added.
Market reaction
The major Wall Street indices continue to push lower after these comments. At time of writing, the S&P 500 was shedding 0.63% on the day to 3,699, the Dow Jones Industrial Average was down 0.65% to 30,108, and the Nasdaq Composite was down 0.42% to 12,698.
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