US Treasury Secretary Steven Mnuchin said on Friday that they are working on a solution within next week for easier forgiveness of Paycheck Protection Program (PPP) loans of $50,000 or less.
“There are still parts of the US economy having real difficulty reopening,” Mnuchin further noted and added that they are pushing for more aid for schools, child care, airlines and small businesses in coronavirus relief bill negotiations.
Market reaction
These comments don’t seem to be causing a positive shift in risk sentiment. As of writing, the S&P 500 Index was down 0.77% on the day at 3,355.
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