Senate Testimony Shows Rift Between Treasury and Fed This briefing has ended. “For now, significant challenges and uncertainties remain, including timing, production and distribution, and efficacy across different groups,” Mr. Powell said. Asked by Mr. Warner if they believed this type of package was needed, both Mr. Powell and Mr. Mnuchin agreed some form of additional support was needed. “It sounds like you’re hitting a lot of the areas that could definitely benefit,” Mr. Powell said. Jerome H. Powell, Federal Reserve chair, at a Senate Banking Committee hearing on Capitol Hill on Tuesday.

Source: New York Times December 01, 2020 12:08 UTC