McConnell proposes shifting unspent small business funds to COVID-19 aid
Senate Majority Leader Mitch McConnell is proposing that Congress funnel $455 billion of unspent small business lending funds toward a new COVID-19 aid package.
Mnuchin rejects renewal of some Federal Reserve emergency loan programs
The central bank said it "would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy.
U.S. sanctions hit all of Iran’s financial sector
The Trump administration has blacklisted virtually all of Iran’s financial sector, dealing another blow to an economy that is already reeling under U.S. sanctions. The move will deepen tensions with European nations over Iran.
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News Wrap: At Senate hearing, Mnuchin touts ‘fastest economic recovery’
In our news wrap Thursday, Democrats at a Senate hearing pressed the Trump administration to negotiate a new pandemic relief package. But Treasury Secretary Steven Mnuchin said the country is already “in the midst of the fastest economic recovery from…
Both officials stressed that major sectors of the economy were still suffering.
Former Federal Reserve Chairs Ben Bernanke and Janet Yellen will testify, starting at 12:30 p.m. ET today. Watch their remarks here.
Treasury Secretary Steven Mnuchin urged Congress to quickly enact a new pandemic relief package targeting hardest-hit swaths of the economy, as lawmakers race to stand up federal aid in the face of the latest spike in coronavirus cases across much…
A key coronavirus rescue fund nearly exhausted, negotiations are accelerating in Washington over President Donald Trump’s $250 billion emergency request to help smaller employers across the country keep workers on their payroll.
The deals aren't final, but the assistance is almost certain to be a mix of cash and loans, and the government could take a small ownership stake in the leading airlines.
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