Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell will address the Senate Banking Committee tomorrow about coronavirus relief aid. Read their written testimonies 👇
Jabin Botsford/The Washington Post via Getty ImagesTreasury Secretary Steven Mnuchin speaks during a coronavirus task force briefing in April.Treasury Secretary Steven Mnuchin and Jerome Powell, chair of the Federal Reserve Board of Governors, will remotely address the Senate Banking Committee on Tuesday regarding the disbursement of hundreds of billions of dollars in coronavirus relief aid.
In written testimony released on Monday , Powell described the pandemic as having caused"a level of pain that is hard to capture in words." He added:"As a society, we should do everything we can to provide relief to those who are suffering for the public good." Powell has called on Congress to do more to meet the Fed on its historic lending, and to expand relief funding to Americans. So far, Congress has passed an unprecedented$3 trillion in additional relief, including nearly $1 trillion for state, local and tribal governments, and hazard pay for essential workers and families. Republicans have called the measure a Democratic wish list, and the White House has issued a veto threat.outlining its supervision of lending programs.
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