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...