The US economy is expected to come back strong in June once the lockdowns imposed to prevent the spread of the novel coronavirus (COVID-19) pandemic are lifted, Treasury Secretary Steven Mnuchin said in an interview on Monday
WASHINGTON (Pakistan Point News / Sputnik - 30th March, 2020) The US economy is expected to come back strong in June once the lockdowns imposed to prevent the spread of the novel coronavirus (COVID-19) pandemic are lifted, Treasury Secretary Steven Mnuchin said in an interview on Monday.
"I think so," Mnuchin told Fox news in response to a question whether the US economy would come roaring back from June 1st.
Mnuchin said he anticipated at least a "rough" second quarter for the US economy from lockdowns that the authorities have imposed and President Donald Trump said will last until the end of April.
"Our economy was in great shape," Mnuchin said. "Our economy was the economy that was really growing in leading the world and American business is going to get through this. I expect that with all the liquidity we're putting into the economy to get through the next couple of months when we reopen ... the economy will surge back."
Trump signed a $2-trillion stimulus package passed by US lawmakers to deal with the fallout from the COVID-19 pandemic, but said he anticipated that more funds will be needed.
Mnuchin backed that assertion, saying, "We're ready to work with Congress if we need more enhancements or additional funds."
As of Monday, there were more than 143,000 confirmed cases of COVID-19 in the United States and more than 2,500 deaths from the pandemic.
