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Title: Watch Live: Powell & Mnuchin Face 'Mad' Maxine In Congressional Testimony
Source: [None]
URL Source: https://www.zerohedge.com/political ... maxine-congressional-testimony
Published: Sep 22, 2020
Author: Tyler Durden
Post Date: 2020-09-22 11:43:22 by Horse
Keywords: None
Views: 19

Secretary of Treasury Steve Mnuchin joins Fed Chair Jay Powell to testify to Maxine Waters and her House Committee on Financial Services this morning.

We suspect, if recent history is any guide, the focus will be on how The Fed and Treasury can hand out more money to minorities and those most disadvantaged by the government-imposed lockdowns, all the while unable to see the real driver of inequality sitting - ironically masked - right in front of them... the asset-value-inflating Fed!

Powell's preamble, released yesterday, defended the lack of success in The Fed's Main Street Lending Facility - so we suspect some pressure there from Maxine and her pals. And of course, there will be plenty of fault apportioned as to who is to blame for a lack of further stimulus (which Powell has implicitly hinted at as being desired).

Speaking just ahead of the testimony, Fed' Evans dropped these two headlines...

*EVANS: RECESSION DYNAMIC TO HIT IN BIG WAY WITHOUT FISCAL HELP

*EVANS: ADDITIONAL FISCAL SUPPORT `FUNDAMENTAL, VERY IMPORTANT'

...making it very clear what The Fed thinks needs to be done!

Watch Live (due to start at 1030ET):


Poster Comment:

Donkey voters are going to start calling up their politicians because 50 million Americans can't pay their rent and election day is coming up. Presidential debate is September 29th. Rent and mortgage payments are due October 1st. Also car payments. Future homeless might decide to make the car payment and live in the car until all these stupid lockdowns end and the economy opens up.

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