Mnuchin, Powell say Congress needs to pass more COVID-19 relief

Economy needs more relief, officials say. The say businesses need direct aid, not loans, and taxpayers need more stimulus money.


National News

September 23, 2020 - 9:52 AM

WASHINGTON — Treasury Secretary Steven Mnuchin, Federal Reserve Chairman Jerome Powell and representatives from both parties agreed on at least one point at a hearing Tuesday: The economy needs more relief from Congress to sustain the recovery from the coronavirus.

Despite that broad consensus, Congress, paralyzed by partisanship six weeks before the election, might not act.

Mnuchin, who has led relief bill negotiations for Republicans alongside White House Chief of Staff Mark Meadows, said at a House Financial Services Committee hearing that he supported a targeted package focused on schools and the most affected parts of the economy.

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