By the Associated Press:

Treasury Secretary Steven Mnuchin said Thursday he will not extend several emergency loan programs set up with the Federal Reserve, an action that could hamper the ability of the incoming Biden administration to gain important economic support from the central bank to deal with the ongoing pandemic.

The decision drew a terse rebuke from the Fed. The central bank said it “would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy.”

But in a letter to Fed Chairman Jerome Powell, Mnuchin said that the Fed’s corporate credit, municipal lending and Main Street Lending programs would not be renewed when they expire on Dec. 31.