9/24/2020, 4:37 PM (Source: TeleTrader)
more TeleTrader news

Mnuchin: Strong bipartisan support for additional PPP

There is "strong bipartisan support" for additional funds and more flexibility within the Paycheck Protection Program, United StatesTreasury Secretary Steven Mnuchin said on Thursday in his testimony before the Senate Committee on Banking, Housing and Urban Affairs.

Answering senators' questions on Capitol Hill, Mnuchin reiterated his call for a more targeted relief package for particularly hard-hit industries during the coronavirus pandemic, such as the broader hospitality industry.

Federal Reserve Chairman Jerome Powell agreed with the Treasury secretary that more fiscal support is necessary in order for the US economy to weather the COVID-19 crisis.

Breaking the News / JC