Tuesday, September 22, 2020

Powell and Mnuchin testify before Congress

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:

In short, Powell and Mnuchin point out that they can't tell Congress what to do and that Congress should spend more.

No comments:

Post a Comment