A clear disconnect between the Treasury and the Fed – Marketplace

Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin testified earlier than the Senate Banking Committee in regards to the CARES Act — and it just about appeared like they had been speaking about two completely different economies. Powell targeted on the large image, whereas Mnuchin caught to the letter of the regulation. And that might make passing extra COVID-19 support even more durable. Plus: Most states have been underpaying pandemic unemployment advantages, and Capitol Hill continues to be overwhelmingly white.

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