The White House / Flickr
Trump believes that it is possible to extend the program of assistance to small businesses
The White House / Flickr
In the US, Finance Minister Steven Mnuchin and the head of the Federal reserve system Jerome Powell testified to the Senate Committee on banks on measures to counter the pandemic. In particular, discussed the mistakes made in the allocation of previously approved anti-crisis packages totaling about $ 3 trillion.
Economic activity in the US gradually resumed in many States. Simultaneously completed action two months infusion of funds to small businesses to prevent layoffs. In response to calls to extend the program to the President, Donald trump expressed confidence that it “should be just” reports “Voice of America”.
Other programs – in particular big business and issuers of municipal bonds – only act. Steven Mnuchin expressed the hope that in the third and fourth quarters, economic conditions in the country will improve. According to him, according to the optimistic scenario, the markets will open and new crediting mechanisms is not required.
In connection with questions about the technical failures that caused delays in payments on loans for small businesses, and sudden changes in rules, which many of the largest restaurant networks with access to the capital markets had to return the money under threat of audit, Mnuchin stressed that government departments work together to tackle these problems.
Workers of services of life-support “risking their lives for very low wages, and they are still concerned about how to pay the bills.” “Is that fair?” asked Mnuchin democratic Senator from Ohio Sherrod brown.
When Mnuchin thanked the employees of services of life-support, brown interrupted him: “Thanks – that’s great, but is it fair that our economy pays workers so little of life support under such conditions?”