The White House Office of Management and Budget on Wednesday rescinded a memo that froze federal grants and loans and created widespread confusion this week.

The White House Office of Management and Budget (OMB) rescinded a memo Wednesday that had ordered a "temporary pause" on federal funding and unleashed major confusion across the country. Why it matters: It's an astonishing reversal by the Trump administration,

The OMB memo had directed federal agencies to pause grants and loans pending a review of compliance with the agenda of President Donald Trump.