Washington D.C. – The bipartisan Congressional Oversight Commission released this statement following their initial in-person meeting with Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell:

“We appreciate Secretary Mnuchin and Chair Powell coming to Capitol Hill today to meet with us. The conversation, which focused on the Treasury and the Federal Reserve’s design and implementation of emergency lending programs, was frank, productive, and thoughtful. We look forward to continuing our oversight work and communicating with the Fed and Treasury in the coming months.”

The Congressional Oversight Commission is a five-person panel that was established by the CARES Act. The Commission is focused specifically on the economic stabilization efforts of the Treasury Department and the Federal Reserve. The members of the Commission are Senator Pat Toomey (R-Pa.), Congresswoman Donna Shalala (D-Fla.), Congressman French Hill (R-Ark.), and Bharat Ramamurti. The Commission’s chairperson has not been appointed yet.