Senators Clash Over How Soon To Reopen The Economy

Members of the Senate Banking Committee squabbled Tuesday over how quickly the U.S. economy can rebound from the coronavirus shutdown and whether the federal government is doing enough to support struggling families and businesses in the meantime.

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell defended the government's multi-trillion-dollar relief efforts to date. Powell stressed additional measures may be necessary to prevent lasting economic damage.

The challenges of reopening parts of the economy were underscored by the hearing's format. It was held virtually, with both witnesses and senators on videoconference, though Mnuchin said he would have been willing to testify in person.

Ohio Sen. Sherrod Brown, the ranking Democrat on the committee, accused the Trump administration of pushing businesses to reopen prematurely, without adequate safeguards for workers.

"How many workers should give their lives to increase our GDP by half a percent?" Brown asked.