Fed Reserve Chair Powell & Treasury Secretary Mnuchin Testify on CARES Act Coronavirus Relief Bill

Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin testified at a virtual Senate Banking Committee hearing about the $2 trillion CARES Act… read more

Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin testified at a virtual Senate Banking Committee hearing about the $2 trillion CARES Act coronavirus relief bill. Treasury Secretary Mnuchin told lawmakers there is the risk of “permanent damage” to the economy if a lockdown persists but said the Trump administration wants to reopen in a balanced and safe way. He also acknowledged that the Treasury Department and Federal Reserve are “fully prepared to take losses in certain scenarios” on capital remaining to be distributed from the CARES Act. In addition, committee members questioned the witnesses about worker protections, Paycheck Protection Program (PPP) loans, unemployment claims, and state and local budget shortfalls. close

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Fed Reserve Chair Powell & Treasury Secretary Mnuchin Testify on CARES Act Coronavirus Relief Bill

4,972 Views
Program ID:
472163-1
Category:
Senate Committee
Format:
Senate Committee
Location:
Washington, District of Columbia, United States
First Aired:
May 19, 2020 | 10:00am EDT | C-SPAN.org
Last Aired:
May 20, 2020 | 10:17pm EDT | C-SPAN 2

Airing Details

  • May 19, 2020 | 10:00am EDT | C-SPAN RADIO
  • May 19, 2020 | 10:01am EDT | C-SPAN 1
  • May 19, 2020 | 10:50am EDT | C-SPAN 1
  • May 19, 2020 | 8:00pm EDT | C-SPAN 1
  • May 20, 2020 | 4:27am EDT | C-SPAN 1
  • May 20, 2020 | 10:17pm EDT | C-SPAN 2
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Fed Reserve Chair Powell & Treasury Secretary Mnuchin Testify on CARES Act Coronavirus Relief Bill

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