Powell and Mnuchin urge Congress to pass a new round of economic stimulus plan as soon as possible

　　China News Service, Washington, December 2 (Reporter Sha Hanting) Fed Chairman Powell and U.S. Secretary of the Treasury Mnuchin attended the hearing of the House of Representatives Financial Services Committee on the 2nd local time, saying that under the current economic situation, Congress needs to pass as soon as possible. A new round of economic stimulus plan.

　　Powell said at the hearing that the financial assistance provided by Congress is "critical" and will serve as a "bridge" so that the US economy can persist from the current epidemic situation until there is enough vaccine to be provided to the people next year.

　　Powell said that if Congress does not provide assistance, many people will lose their homes, many small businesses will go bankrupt, and "part of the US economy will disappear", which will have a negative impact on the economic recovery next year.

Powell emphasized that many small businesses are already under tremendous pressure, and Congress needs immediate action.

　　Mnuchin said that the current focus of assistance should be to provide financial support to small businesses and distribute a new round of cash to the public.

He also said that Congress should extend the duration of the emergency unemployment compensation program.

These projects will expire at the end of this month, and 11 million people in the United States currently rely on unemployment benefits.

　　The two parties in Congress have been negotiating a new round of economic stimulus plan for the epidemic for several months. Due to the big differences between the two parties on the total amount of aid and the specific content, they have not yet reached an agreement.

　　On the 1st of this month, a number of congressmen from both parties in the Senate jointly introduced a total of US$908 billion in aid drafts.

The Speaker of the House of Representatives, Democrat Pelosi, and Senate Minority Leader, Democrat Schumer jointly issued a statement on the 2nd in support of the plan, and said that negotiations can continue on the basis of the plan in the future.

The $908 billion package is far below the $2.2 trillion aid package requested by the Democrats.

　　Senate Majority Leader McConnell, a Republican, said on the 1st that he still adheres to the $500 billion aid package previously proposed.

McConnell said Congress has "no time for lengthy negotiations."

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