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Janet Yellen isn’t likely to immediately revive the Fed’s expired relief programs, report says

Janet Yellen nomination

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Various Federal Reserve lending facilities left to expire under former Treasury Secretary Steven Mnuchin are likely to stay closed in the immediate future.

Janet Yellen, President Joe Biden’s nominee for Treasury Secretary, indicated she won’t work to reopen the closed 13(3) programs unless Congress allows for such action, Bloomberg reported on Thursday, citing Yellen’s written responses to questions from the Senate Finance Committee.

“The Federal Reserve will continue to provide support to the economy through its ongoing programs and the use of its available tools but as mandated by Congress, the 13(3) facilities funded by the details ⇒

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