2 hours, 2 minutes

Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell testified before the House Financial Services Committee on the federal government's response to the coronavirus pandemic. The Treasury secretary and Federal Reserve chair talked about the state of the economy, which they said was improving but still required a lot of work. They discussed the impact of the Paycheck Protection Program on small businesses as well as the historically low interest rates at which borrowers can secure loans. Secretary Mnuchin said the administration was in favor of further relief legislation and supported additional direct support payments. He urged Democrats and Republicans to find bipartisan agreement on a bill.