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'Worse than any recession since World War II': Mnuchin, Powell grilled on coronavirus response

USATODAY.com Tuesday, 19 May 2020
Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell faced an array of questions from senators on the response to the pandemic.
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News video: Obama Criticizes Trump's Response To Coronavirus Pandemic

Obama Criticizes Trump's Response To Coronavirus Pandemic 00:32

Former President Barack Obama gave a college commencement address that criticized President Donald Trump’s coronavirus response. Obama spoke to the class of 2020 for 74 historically black colleges and universities across the U.S. He said: “You’re being asked to find your way in the world in the...

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Steven Mnuchin Steven Mnuchin 77th and current United States Secretary of the Treasury

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Jerome Powell Jerome Powell American central banker, and 16th Chairman of the Federal Reserve in the United States

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A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chairman Jerome Powell told Congress on Tuesday. Conway G. Gittens has more of his testimony.

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Federal Reserve Chair Jerome Powell on Tuesday testified before the Senate Banking Committee and said that the U.S. economy appears to be entering the second phase of reopening assuming the virus remains under control.

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Layoffs in the United States are abating, but millions who lost their jobs because of COVID-19 continue to draw unemployment benefits, suggesting the labor market could take years to heal from the pandemic even as businesses resume hiring workers. Conway G. Gittens breaks down the numbers.

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World War II World War II 1939–1945 global conflict between the Axis and the Allies

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Nelson Henry Dies at 96; Fought to Correct Military Slight

In World War II, he was given an insulting “blue discharge”; more than 70 years later, he was upgraded to “honorable.” He died of the coronavirus.
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Finding a new purpose, a WWII submarine base is transformed into a new digital art space.

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The Eiffel Tower on Thursday welcomed back visitors after the coronavirus outbreak forced the Paris landmark into its longest period out of action since World War Two.

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Russia's Putin hails Soviet role in WWII at military parade [Video]

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Federal Reserve Federal Reserve Central banking system of the United States

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Madeline McWhinney Dale, Trailblazing Banker, Is Dead at 98

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Dow drops 700 points, caps week with losses as virus cases surge

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Shares Drop As Wall Street Waits For Fed's Take On US Economy [Video]

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Investors on Tuesday paused ahead of a Federal Reserve Meeting that could reveal the Fed's view on recent signs of economic recovery. No major policy announcements are expected when the US central bank's meeting wraps up on Wednesday. However, investors will scrutinize its remarks on the health of the economy, which has been reopening slowly after coronavirus-related closures. According to Reuters, the S&P 1500 airlines index declined 8.5% on Tuesday.

Credit: Wochit News    Duration: 00:34Published

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