Latest Steven Mnuchin News

A customer wears a face mask to help curb the spread of the new coronavirus as he walks behind sales advertisements at a shopping mall in Bangkok Thursday, July 9, 2020. Daily life in the capital slowly returns to normal as Thai government has eased restrictions imposed weeks ago to combat the spread of COVID-19. (AP Photo/Sakchai Lalit)

Bed Bath & Beyond closing stores, cruises prepare to sail

Jul. 9, 2020 7:25 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus. ________________________ RETAIL: — Bed Bath & Beyond plans to close about 200...

FILE - In this April 24, 2020 file photo, empty United Airlines ticket machines are shown at the Tampa International Airport in Tampa, Fla. United United Airlines will send layoff warnings to 36,000 employees - nearly half its U.S. staff - in the clearest signal yet of how deeply the virus outbreak is hurting the airline industry. United officials said Wednesday, July 8 that they still hope to limit the number of layoffs by offering early retirement, but they have to send notices this month to comply with a law requiring that workers get 60 days' notice ahead of mass job cuts. (AP Photo/Chris O'Meara, File)

US economy may be stalling out as viral outbreak worsens

Jul. 9, 2020 3:43 PM EDT

WASHINGTON (AP) — The U.S. economy is stumbling as the viral outbreak intensifies, threatening to slow hiring and deepening the uncertainty for employees, consumers and companies across the country. Coronavirus case counts are rising in 38 states, and the nation as a whole has been shattering single-day...

A P.F. Chang China Bistro restaurant is seen in Omaha, Neb., Tuesday, July 7, 2020. The restaurant is among big corporate names on the government’s list of 650,000 recipients of coronavirus relief loans despite the controversy that prompted other high-profile businesses to return billions of dollars in loans. P.F. Chang’s China Bistro said its loan of between $5 million and $10 million helped keep 12,000 workers employed as it transitioned its over 210 restaurants to take-out.  (AP Photo/Nati Harnik)

Small business program scrutinized for loans to big firms

Jul. 7, 2020 4:13 PM EDT

NEW YORK (AP) — Congress set aside $659 billion to throw a lifeline to small businesses and organizations side-swiped by the coronavirus pandemic and to help paychecks keep flowing to workers who might otherwise head to the unemployment line. Yet that's not exactly how it worked out. Among the 650,000...

FILE - In this Sept. 25, 2019, file photo, The White House is seen from the Ellipse in Washington. Forty lobbyists with ties to President Donald Trump helped their clients secure over $10 billion in federal coronavirus aid. Among them are five former administration officials whose lobbying work potentially violates an ethics order Trump issued after taking office.  (AP Photo/Carolyn Kaster, File)

Trump-connected lobbyists reap windfall in federal virus aid

Jul. 6, 2020 10:19 PM EDT

WASHINGTON (AP) — Forty lobbyists with ties to President Donald Trump helped clients secure more than $10 billion in federal coronavirus aid, among them five former administration officials whose work potentially violates Trump's own ethics policy, according to a report. The lobbyists identified Monday by...

FILE - In this June 30, 2020 file photo, Treasury Secretary Steven Mnuchin testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington. The Treasury Department said it is releasing on Monday, July 6 the names of more than 700,000 companies that received funds from the government’s small business lending program, a massive effort intended to support the economy as states shut down in April to contain the viral outbreak (Tasos Katopodis/Pool via AP, File)

Small business aid went beyond hard-hit companies, data show

Jul. 6, 2020 6:53 PM EDT

WASHINGTON (AP) — The government on Monday identified roughly 650,000 mostly small businesses and nonprofits that received taxpayer money through a federal program that was designed to soften job losses from the coronavirus but also benefited wealthy, well-connected companies and some celebrity owned...

FILE - In this June 10, 2020 file photo, Jovita Carranza, Administrator of the Small Business Administration, testifies during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, on Capitol Hill in Washington. The Treasury Department said it is releasing on Monday, July 6 the names of more than 700,000 companies that received funds from the government’s small business lending program, a massive effort intended to support the economy as states shut down in April to contain the viral outbreak.  (Kevin Dietsch/Pool via AP, File)

The Latest: Financial firms among big relief fund recipients

Jul. 6, 2020 5:59 PM EDT

NEW YORK (AP) — The Latest on the Treasury decision to identify hundreds of thousands of businesses that received funding through the Paycheck Protection Program, created to preserve jobs at smaller businesses during the coronavirus pandemic: ___ The financial services industry received roughly $27 billion...

FILE - In this June 25, 2020 file photo, a price sign is displayed at a retail store as a store employee wears a mask while working in Niles, Ill. Small businesses can still get help from the government’s coronavirus relief plan after Congress extended the Paycheck Protection Program until Aug. 8. The program that had been set to expire last week still has more than $130 billion left after giving out more than 4.8 million loans since its April 3 start. (AP Photo/Nam Y. Huh, File)

Q&A: The nuts and bolts of the Paycheck Protection Program

Jul. 6, 2020 12:09 PM EDT

NEW YORK (AP) — Small businesses can still get help from the government’s coronavirus relief plan after Congress extended the Paycheck Protection Program until Aug. 8. The program that was set to expire Tuesday still has nearly $132 billion left after giving out more than 4.8 million loans since it...

Wearing masks amid concerns of the spread of COVID-19, volunteers Karen Cooperstein, right, and Edwin Chinchilla, left, prepare food for the pubic during a drive through food pantry distribution by Catholic Charities in Dallas, Thursday, July 2, 2020. (AP Photo/LM Otero)

US unemployment falls to 11%, but new shutdowns are underway

Jul. 2, 2020 4:28 PM EDT

WASHINGTON (AP) — U.S. unemployment fell to 11.1% in June as the economy added a solid 4.8 million jobs, the government reported Thursday. But the job-market recovery may already be faltering because of a new round of closings and layoffs triggered by a resurgence of the coronavirus. While the jobless rate...

FILE - In this Wednesday, March 25, 2020, file photo, American Airlines jets sit idly at their gates as a jet arrives at Sky Harbor International Airport in Phoenix. American Airlines and four smaller carriers have reached agreement with the government for billions more in federal loans, a sign of the industry’s desperate fight to survive a downturn in air travel caused by the virus pandemic. The Treasury Department said Thursday, July 2, 2020, that it had finalized terms of new loans to American, Spirit Airlines, Frontier Airlines, Hawaiian Airlines and SkyWest Airlines. (AP Photo/Matt York, File)

American and 4 other airlines reach loan agreements with US

Jul. 2, 2020 12:50 PM EDT

DALLAS (AP) — American Airlines and four smaller carriers have reached agreement with the government for billions more in federal loans, a sign of the industry’s desperate fight to survive a downturn in air travel caused by the virus pandemic. The Treasury Department said Thursday that it had signed...

Federal Reserve Board Chairman Jerome Powell, left, and Treasury Secretary Stephen Mnuchin, bump elbows at the conclusion of a House Committee on Financial Services hearing on oversight of the Treasury Department and Federal Reserve pandemic response, Tuesday, June 30, 2020 on Capitol Hill in Washington.  (Tasos Katopodis/Pool via AP)

Congress extends relief program for COVID-slammed businesses

Jul. 1, 2020 8:35 PM EDT

WASHINGTON (AP) — The House on Wednesday easily passed a temporary extension of a subsidy program for small businesses slammed by the coronavirus, speeding the measure to President Donald Trump. Approval by voice vote without debate came after Democrats pushed the legislation through the GOP-controlled...