At a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Treasury Secretary Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell touted the federal government's financial response to the pandemic and urged Congress to raise the debt limit.
News & Insights
In testimony before the Senate Banking Committee, Federal Reserve Board Chair Jerome H. Powell and Secretary of the Treasury Steven T. Mnuchin reviewed government actions taken pursuant to the Coronavirus Aid, Relief, and Economic Security Act.
At the Venice International Conference on Climate Change, Financial Stability Board Chair Randal K. Quarles described "foundational components" for climate-related financial risk disclosure. Separately, Secretary of the Treasury Janet L. Yellen called for consistency across climate change reporting frameworks.
The Treasury Department Office of Financial Research, SEC staff and Federal Reserve Board staff updated the Financial Stability Oversight Council on pandemic and climate-related risks to the financial system.
Treasury Secretary Janet L. Yellen appointed Michael Hsu as OCC Acting Comptroller.