Brown to Mnuchin: "You canceled the Federal Reserve lending programs.. There is no legitimate justification for it.. Either you're purposely trying to stop [Biden and Janet Yellen] from getting to work for the people we all serve, or you're delusional."
Mnuchin answers Brown that he followed the law: "I'm surprised to hear Sen. Brown use words like 'sabotage,' 'no legitimate justification,' 'delusional,' 'malpractice,'.. I'd be more than happy, Sen. Brown, to come see you and your staff, and walk you through the legal analysis."
Mnuchin says he isn't being political in pulling the plug on Fed programs. Sen. Sherrod Brown says Mnuchin is trying to tank the economy.
Seeing the Fed and Treasury "not on the same page is not a good signal to the market" UBS Asset Management's Evan Brown weighs in on the discord between Mnuchin and Powell over the Fed's lending programs @FerroTV
TODAY: I questioned Secretary Mnuchin and Fed Chair Powell as they testified before the Banking, Housing & Urban Affairs Committee. Black, brown, and low-income communities are disproportionately suffering. We need robust & targeted relief that matches the scale of this crisis.
Treasury Sec. Mnuchin and Sen. Brown sparred over additional coronavirus aid during today’s Senate hearing. “If the Democrats are willing to sit down, I’m will to sit down anytime for bipartisan legislation,” Sec. Mnuchin said.
Sen. Brown asks Mnuchin: "How many workers should give their lives to increase our GDP by half a percent?"
"How many workers should give their lives to increase our GPD by half a percent?" Sen. Sherrod Brown challenged Treasury Secretary Steven Mnuchin about whether the Trump administration is doing enough to protect returning workers during the pandemic.
”How many workers should give their lives to increase our GDP by half a percent?" Sen. Brown asks Sec. Mnuchin. Mnuchin responds, “no workers should give their lives to do that;” says Brown’s “characterization" is "unfair.”
Schatz and Brown write letter to Mnuchin about PPP loan processing of "bulk" applications: "large lenders were allowed to submit thousands of applications the moment the SBA reopened its loan system, while small lenders are stuck trying to manually enter applications one-by-one."