The main fiscal / monetary news today was Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin's hybrid hearing before the House Committee on Financial Services.
The CARES Act requires that they provide quarterly testimony in addition to other oversight requirements. Summaries of the hearing:
- Bloomberg's Chris Condon: Powell Warns Recovery Highly Uncertain, Argues for More Aid
- Wall Street Journal's Timiraos and Davidson: Mnuchin, Powell Urge More Spending to Help Economy Recover From Pandemic
- Washington Post's Rachel Siegel: Powell and Mnuchin credit stimulus with boosting recovery, but calls for more aid go unanswered
- Reuters' Burns and Schneider: Fed, Treasury chiefs back more aid for small business but leave details fuzzy.