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US Treasury Secretary Mnuchin is testifying before the US Senate Committee on Banking, Housing, and Urban Affairs.

Key quotes

“Despite the progress on vaccines, small businesses cannot wait two or three months for more aid.”

“Urging Congress to make changes to Paycheck Protection Program to simplify it, allocate unused funds.”

“No reason to dispute the US Bureau of Labor Statistics’ unemployment data.”

“Looking forward to reviewing $908 billion bipartisan Senate COVIDaid proposal.”

“More fiscal response is needed but it’s important to agree on something that can be passed quickly.”

Market reaction

These remarks don’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was up 1.33% on the day at 3,670.