FILE - This Aug. 24, 2020 file photo shows Treasury Secretary Stephen Mnuchin at the White House in Washington. The U.S. is starting the 2021 budget year the way the old year ended, with soaring deficits. The Treasury Department reported Thursday, Nov. 12 that the federal government ran up a record October deficit of $284.1 billion, nearly double the red ink of a year ago. (AP Photo/J. Scott Applewhite, File)

FILE - In this Sept. 24, 2020 file photo, Federal Reserve Chair Jerome Powell, right, and Treasury Secretary Steve Mnuchin testify during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, in Washington. Mnuchin on Friday, Nov. 20 denied that he is trying to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said his decision was based on the fact that the programs were not being heavily utilized and the money could be better used by being re-allocated by Congress to provide support in other areas such as further grants to small businesses and extended unemployment assistance. (Toni L. Sandys/The Washington Post via AP, Pool)

FILE - In this Monday, Sept. 21, 2020 file photo, Treasury Secretary Steve Mnuchin speaks during a news conference to announce the Trump administration's restoration of sanctions on Iran at the U.S. State Department in Washington. Treasury Secretary Steven Mnuchin said Thursday, Nov. 19, 2020 he will not to extend several emergency loan programs set up with the Federal Reserve to support the economy in the midst of the coronavirus pandemic.(AP Photo/Patrick Semansky, File)