Economy

Watch Fed Chair Jerome Powell and Treasury chief Mnuchin speak to House panel live

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Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin head to the House Financial Services Committee for the second day of testimony on Capitol Hill.

The two officials are required to update Congress on the status of funding provided through the CARES Act, aimed at getting the U.S. economy through the coronavirus pandemic.

In testimony Tuesday before the Senate Finance Committee, the two were questioned over the state of the economy and what help is needed as coronavirus cases spread. Mnuchin in particular faced tough questions about his decision to end several lending programs the Fed had been using that will wind up Dec. 31.

Powell said the economic outlook is "extraordinarily uncertain," and he pledged to keep using the tools at the Fed's disposal until the recovery is certain.

Read more:
Powell stresses importance of lending programs, calls economic outlook 'extraordinarily uncertain'
Fed weighed adjusting bond purchases to provide more help to economy 'fairly soon,' minutes show
83% of small biz owners want another round of stimulus from Washington: Survey

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