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U.S. Treasury Secretary Mnuchin says people are misunderstanding his department’s decision not to extend funding to several Fed lending programs - CNBC

  • We’re following the intent of Congress; it was clear that congressional intent was that Fed's lending facilities should expire at the end of December
  • We need Congress to re-appropriate these funds
  • Еhere’s up to $800 billion in potential firepower that can be deployed if needed through the Exchange Stabilization Fund and elsewhere
  • Markets should be very comfortable that we have plenty of capacity left
  • We'll be redoubling our efforts to sit down with Congress and get something done on stimulus
  • Parts of the economy are roaring back but a lot of people are still struggling
  • We want to get a targeted bill done for the people who really need it
  • We're working to get vaccine distributed widely

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21:22 27.11.2020
Key events for next week: China, eurozone, Britain and the United States PMI's, RBA interest rate decision, eurozone consumer price index, Canada and Australia GDP, United States and Canada unemployment rate, USA and Canada trade balance
On Monday, at 00:00 GMT, New Zealand will release ANZ's business confidence indicator for November. Also at this time, Australia will present inflation data from MI for November. At 00:30 GMT, Australia will announce changes in the volume of operating profit of companies for the 3rd quarter and the volume of lending to the private sector for October. At 01:00 GMT, China will publish the PMI for the manufacturing sector and the non-manufacturing activity index for November. At 05:00 GMT, Japan
18:33 27.11.2020
U.S.: Janet Yellen, one of the best to be in charge if another financial crisis blows up - Capital Economics
FXStreet notes that this week the markets were buoyed by the news that President-elect Joe Biden intends to nominate Janet Yellen to be Treasury secretary but, economists at Capital Economics suggest that, while she is eminently qualified, her lack of political deal-making experience could be an Achilles heel.“Without question, Janet Yellen, the ex-Fed Chair and academic economist, will have a very close working relationship with current Fed Chair Jerome Powell, which will presumably include