A clear disconnect between the Treasury and the Fed
Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin testified before the Senate Banking Committee about the CARES Act — and it pretty much sounded like they were talking about two different economies. Powell focused on the big picture, while Mnuchin stuck to the letter of the law. And that could make passing more COVID-19 aid even harder. Plus: Most states have been underpaying pandemic unemployment benefits, and Capitol Hill is still overwhelmingly white.
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