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A late Republican push to curtail the Federal Reserve’s lending authority formed a major roadblock in stimulus negotiations on Saturday — and it threatens to stretch the talks on a $900 billion emergency spending package into next week.

The clash over the Fed between Republicans and Democrats appeared to intensify on Capitol Hill. Politico reported that Senate Majority Leader Mitch McConnell told senators in a caucus call that Republicans should stand firm with Sen. Patrick Toomey. He’s demanding to cut off the central bank’s emergency lending powers after they sunset on Dec. 31.

Toomey, the incoming details ⇒

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