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Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin travel to the House Financial Services Committee for the second day of testimony on Capitol Hill.
The two officials are required to brief Congress on the status of funding provided through the CARES Act, aimed at pushing the US economy through the coronavirus pandemic.
In testimony Tuesday before the Senate Finance Committee, the two were asked about the state of the economy and how much help is needed for the spread of coronavirus cases. Mnuchin, in particular, faced tough questions over his decision to end several loan programs the Fed was using that will end on December 31.
Powell said the economic outlook is “extraordinarily uncertain” and he pledged to continue using the tools available to the Fed until recovery is certain.
Read more:
Powell stresses importance of loan programs, calls economic outlook ‘extraordinarily uncertain’
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83% of small business owners want another round of Washington stimulus: survey
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