Mnuchin, Powell to testify next week

Treasury Secretary Steven Mnuchin and Federal Reserve chairman Jerome Powell will both testify before the Senate Banking committee next Tuesday as part of oversight of the CARES Act, which requires them to give quarterly updates to Congress on economic programs.

Why it matters: The Treasury and the Fed have been closely linked amid the downturn. Mnuchin at one point was speaking to Powell "30 times a day." This hearing will be the first time since the coronavirus crisis began that the pair will publicly — albeit virtually — appear together.