What should be included in a new coronavirus package to support the economy? “I think the next package should be much more targeted, it should be focused on kids and jobs and areas of the economy that are still hard hit,” Treasury Sec. Mnuchin says.
are testifying Tuesday before the House Financial Services Committee. Each will discuss his agency's response to the coronavirus pandemic and answer questions from the committee's lawmakers.
Since March, the Fed and Treasury have introduced a litany of programs aimed at lending money to businesses struggling for liquidity as Americans stay at home. Their efforts include the Main Street Lending Program aimed at companies with fewer than 15,000 employees, the Paycheck Protection Program and direct stimulus checks to U.S. workers.
"Economic activity has picked up from its depressed second-quarter level, when much of the economy was shut down to stem the spread of the virus. Many economic indicators show marked improvement," he added. "Both employment and overall economic activity, however, remain well below their pre-pandemic levels, and the path ahead continues to be highly uncertain."
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