Ticker: CDC escalates warning for cruise travel; Mnuchin denies trying to limit Biden’s economic options

The U.S. Centers for Disease Control and Prevention has escalated its warning for cruise travel to the highest level and continued to recommend avoiding any trips on cruise ships worldwide.

The agency raised its warning to Level 4 from Level 3, citing “very high” risk of COVID-19 on cruise ships. Passengers are at increased risk of person-to-person spread of COVID-19 and should get tested and stay home for at least seven days after travel, according to its website.

“For most travelers, cruise ship travel is voluntary and should be rescheduled for a future date,” the CDC said.

The agency just last month provided a framework for cruise lines to plan for resuming operations. Under that order, passenger operations aren’t allowed during initial phases, and every ship must be certified by the CDC before travelers can board.

The eight-month shutdown has been catastrophic for the cruise line industry and its three biggest operators, Carnival Corp., Royal Caribbean Cruises Ltd. and Norwegian Cruise Line Holdings Ltd. Earlier this month, Carnival canceled additional trips as it works to meet CDC requirements, pausing U.S. operations through Jan. 31.

Mnuchin denies trying to limit Biden’s economic options

Treasury Secretary Steven Mnuchin denied he’s attempting to limit President-elect Joe Biden’s options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve.

Mnuchin said the programs were not being heavily utilized and Congress can make better use of the money by re-allocating it toward small-business grants and extended unemployment assistance.

“We’re not trying to hinder anything,” Mnuchin said in a CNBC interview. “We don’t need this money to buy corporate bonds. We need this money to go help small businesses that are still closed.”

Mnuchin has argued that the decision will allow Congress to reappropriate $455 billion to other coronavirus programs.

After initially objecting to the move, which will end the Fed’s corporate credit, municipal lending and Main Street Lending programs, the Fed it said would comply with the request and return the unused money to the Treasury.