Mnuchin's decision has caused some concern among the investing community. The most recent data shows the US economy is seeing a loss of momentum.in the second week of November, more than economists expected, and home sales slowed to 4.3% from 9.9% on a monthly basis in October.
"The combination of rising COVID-19 infections and lack of additional fiscal stimulus after the CARES Act may now be finding its way into the economic data," Rabobank analysts said. Mnuchin has requested for the expiration of several important credit facilities including the primary market corporate credit facility, the municipal lending facility, and the main street lending program by December 31.Democrats have said the decision will serve as a handicap to the incoming Biden administration, since it could prevent another treasury secretary from restarting emergency lending programs early next year.