White House economic adviser Larry Kudlow said on Friday that the Trump administration strongly supports restrictions on the Federal Reserve’s use of Treasury funds for emergency lending programs, as reported by Reuters.
Trump is “going to go with” US Senate Majority Leader Mitch McConnell on the coronavirus relief bill, Kudlow added.
Market reaction
Wall Street’s main indexes continue to push lower after these comments. As of writing, the S&P 500 was losing 0.63% on the day at 3,699, the Dow Jones Industrial Average was down 0.65% at 30,108 and the Nasdaq Composite was falling 0.42% at 12,698.
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