Amid fears of a looming recession, President Joe Biden hit the road Thursday for Springfield, Virginia to tout his economic wins.

President Biden met with Federal Reserve Chair Jerome Powell in the Oval Office amid an inflation crisis

The taxpayer-funded loan was made on the grounds that the company's operations are critical for maintaining national security. The panel members questioned the decision to deem YRC’s business vital to national security. Ramamurti asked Treasury Secretary Steven Mnuchin whether he had had contacts with Kushner or his staff regarding the YRC loan. He called the loan to YRC “a fast-tracked, extremely generous loan that just so happened to help” Apollo as YRC’s creditor. To qualify for the national security aid, companies should be performing under defense contracts of the highest national priority or operating under top-secret security clearance.

Treasury Secretary Steven Mnuchin speaks during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, Wednesday, June 10, 2020 on Capitol Hill in Washington. Mnuchin, testifying before the Senate Small Business Committee, said the administration plans to spend the next 30 days looking at what measures should go in the next relief bill. There is no question that small businesses in many industries will need more help, Mnuchin said. Small businesses and larger businesses are going to need more help.New support measures will need to encourage business owners to rehire workers, especially those in the hardest hit industries like restaurants and travel, he said. The applications require more paperwork from small businesses than the paycheck protection loans.