In the News

Fed Receives Bipartisan Critique for Stalled Main Street Lending Bloomberg News Network 05/20/2020 (Bloomberg) -- The U.S. Federal Reserve received a bipartisan critique Wednesday from members of a congressional oversight panel who said the central bank has been slow to launch a key emergency lending program for mid-sized companies. Representative French Hill, an Arkansas… Read more »

Oversight of $500 Billion in Coronavirus Aid is at Risk as Pelosi and McConnell Fight Over A Leader Newsweek 05/20/2020 Members of a bipartisan congressional panel who oversee $500 billion in coronavirus funds for struggling businesses are warning that proper oversight is at risk because the commission tasked with the job still lacks a leader. As a result, members are taking the… Read more »

Oversight panel puts out report; $500B fund barely touched, it notes Arkansas Democrat Gazette 05/19/2020 The U.S. Treasury Department has barely tapped a $500 billion economic stabilization fund that was created in response to the covid-19 crisis, the Congressional Oversight Commission reported Monday. The fund and the commission that monitors its use were created as part of… Read more »

Treasury fund meant for virus relief has lent barely any money, oversight commission finds The Day 05/19/2020 WASHINGTON — President Donald Trump on Monday intensified his push for businesses to reopen as quickly as possible, but companies and cities continued to wait for the disbursement of unspent bailout funds and remain unsure what to expect as rules and programs continue to… Read more »

The Finance 202: Senators poised to push Powell, Mnuchin on speed of economic rescue spending The Washington Post 05/19/2020 Federal Reserve Chair Jerome H. Powell is poised this morning to push senators on spending more to backstop the pandemic-ravaged economy. And they are set to make the case right back at him. Powell and Treasury Secretary Steven Mnuchin have allocated only… Read more »

Relief oversight without a leader Arkansas Democrat Gazette 05/18/2020 WASHINGTON -- Seven weeks after Congress unleashed more than $2 trillion to deal with the coronavirus crisis, an oversight commission intended to keep track of how the money is spent remains without a leader. Four of the five members of the Congressional Oversight Commission have been appointed, but House… Read more »

Without out a leader, commission overseeing virus relief struggles Hot Springs Sentinel Record 05/18/2020 WASHINGTON -- Seven weeks after Congress unleashed more than $2 trillion to deal with the coronavirus crisis, an oversight commission intended to keep track of how the money is spent remains without a leader. Four of the five members of the Congressional Oversight Commission… Read more »

Senate willing to negotiate hazard pay for essential workers after $3-trillion HEROES Act passed in House 13WOWK 05/18/2020 WASHINGTON, D.C. (NEXSTAR) – The $3-trillion HEROES Act, which the U.S. House passed last Friday, isn’t likely to pass the Senate, but a few key pieces in it may survive, including hazard pay for our front line workers. Grocery store workers, firefighters,… Read more »

$500 billion Treasury fund meant for virus relief has lent barely any money, oversight commission finds The Philadelphia Inquirer 05/18/2020 WASHINGTON - President Donald Trump on Monday intensified his push for businesses to reopen as quickly as possible, but companies and cities continued to wait for the disbursement of unspent bailout funds and remain unsure what to expect as… Read more »

Senate willing to negotiate hazard pay for essential workers after $3-trillion HEROES Act passed in House KARK 05/18/2020 WASHINGTON, D.C. (NEXSTAR) – The $3-trillion HEROES Act, which the U.S. House passed last Friday, isn’t likely to pass the Senate, but a few key pieces in it may survive, including hazard pay for our front line workers. Grocery store workers, firefighters,… Read more »