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Dec 1, 2020

A clear disconnect between the Treasury and the Fed

Mnuchin and Powell testified on the CARES Act Tuesday, and it pretty much sounded like they were talking about two different economies. Plus: Most states have been underpaying pandemic unemployment benefits.

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Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell greet each other as they arrive at Tuesday's Senate Banking Committee hearing.
Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell greet each other as they arrive at Tuesday's Senate Banking Committee hearing.
Al Drago/AFP via Getty Images

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A clear disconnect between the Treasury and the Fed