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WEATHER ALERT

2 special weather statements in effect for Macomb and St. Clair Regions

SENATE BANKING


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LIVE STREAM: Mnuchin, Powell testify in Senate hearing on coronavirus relief package

Read full article: LIVE STREAM: Mnuchin, Powell testify in Senate hearing on coronavirus relief package

(AP Photo/Evan Vucci)WASHINGTON Treasury Secretary Steven Mnuchin will likely come under tough questioning from senators Tuesday about a small business lending program included in the government's $2 trillion relief package. Mnuchin and Federal Reserve Chair Jerome Powell will testify Tuesday at 10 a.m. before the Senate Banking, Housing and Urban Affairs Committee. The hearing is the first oversight review of the huge relief legislation approved in early March. The Fed had already pledged to publish the names of its borrowers from its Main Street Lending program, and some of its other lending efforts. In the 2008 financial crisis, the Fed faced widespread criticism for the opaque nature of the lending programs it launched.

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