On June 22, the House Select Subcommittee on the Coronavirus Crisis held a hearing titled “U.S. Economy On The Path To Strong Recovery.” Federal Reserve Chair Jerome Powell testified regarding the Fed’s emergency pandemic lending programs and the current state of the economy. Select Subcommittee Chair James Clyburn (D-SC) expressed concerns about the Municipal Liquidity Facility and the Main Street Lending Program, stating: “During the crisis, state and local governments shed 1.5 million jobs, and there is little evidence that the Municipal Liquidity Facility saved jobs or led to their return,” and the “Main Street Lending Program, similarly, imposed restrictions that made its loans unattractive to struggling businesses and partner banks.”