Mnuchin, Powell to Testify Before Senate Banking Committee

05 18 20 Sen Banking Cmte Hearing Vo

Treasury Secretary Steve Mnuchin and Federal Reserve Chairman Jerome Powell will answer questions from the Senate Banking Committee Monday.

They’re expected to testify about the economic stimulus programs implemented by Congress’ $2.2 trillion dollar Cares Act.

Congress passed the aid package about two months ago.

It was meant to support the economy and help people pay their bills as stay-at-home orders shuttered businesses.

Today’s hearing comes on the heels of a report from the new congressional oversight commission.

It found the treasury department has spent little of the $500 billion specifically appropriated for lending to businesses and state and local governments.

Categories: Coronavirus