April 30, 2020
This comes as US Central Bank President Jerome Powell warned on Wednesday that the US economy "may decline to an unprecedented level in the second quarter" of 2020 due to the Covid-19 epidemic.
"We do not yet know the size and duration of the economic slowdown, and they are to a large extent subject to the speed of containing the virus," he told a news conference, stressing that the Federal Reserve will seek to ensure "a robust recovery as possible."
To this end, the central bank will use all available tools because the economy "will definitely need more support" than has been provided so far, Powell said.
Treasury Minister Mnuchin revealed that he was holding about $ 259 million out of the $ 2.2 trillion economic package that passed in late March, but he stressed that these funds would not be lending to major companies such as airlines, oil and gas.
And many airlines have already received about $ 25 billion from the payroll assistance program, and companies that get this help should keep employees and their salaries until the end of next September.