[The stream is slated to start at 10 am ET. Please refresh the page if you do not see a player above at that time.]
The $2.2 trillion rescue package has gone created a variety of programs aimed at helping the U.S. economy get through the coronavirus pandemic.
In prepared remarks, Powell said the Senate Finance Committee that the Fed's portion of the money has served as "a backstop to key credit markets and have helped restore the flow of credit from private lenders through normal channels."
However, Mnuchin has pulled the plug on many of the programs the Fed has used, and he said the unused funds would be better spent elsewhere.
Powell stresses importance of lending programs, calls economic outlook 'extraordinarily uncertain'
Federal Reserve says key bank lending rate will be phased out by June 2023
Mnuchin says people are misunderstanding Fed funding decision, there's plenty of firepower left