Mnuchin, Powell sound supportive on new $908 billion coronavirus relief package

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell expressed some support on Tuesday for a new bipartisan coronavirus relief proposal with a $908 billion price tag. "It sounds like you're hitting a lot of the areas that could definitely benefit from help," Powell said, when asked about the proposal at a Senate Banking Committee hearing. Mnuchin said: "I look forward to reviewing with you the overall package. I do think that more fiscal response is needed." The Treasury secretary also said he planned to talk on Tuesday afternoon with House Speaker Nancy Pelosi, the California Democrat, about fresh stimulus and a bill to avoid a government shutdown, adding that he has spoken more than once this week with Senate Majority Leader Mitch McConnell, the Kentucky Republican, and has kept President Donald Trump updated.

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