May 12, 2020 / 8:52 PM / 14 days ago

Powell, Mnuchin to testify before Senate panel next week on pandemic response

FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world's largest economy from the impact of the coronavirus, during a news conference in Washington, U.S., March 3, 2020. REUTERS/Kevin Lamarque/File Photo

WASHINGTON (Reuters) - Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will testify via the web before the Senate Banking Committee next Tuesday in the first required update to Congress on the economic response to the coronavirus pandemic.

The committee said the first quarterly hearing required under the CARES act would be held remotely beginning at 10 a.m. Eastern time.

Reporting by Howard Schneider; Editing by Chris Reese

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