Treasury Secretary Mnuchin does not expect recession from the coronavirus
Steven Mnuchin, U.S. Treasury secretary, speaks during a news conference in the briefing room of the White House in Washington, D.C., U.S., on Saturday, March 14, 2020.
Shaw Thew | Bloomberg | Getty Images
Treasury Secretary Steven Mnuchin is confident the U.S. economy will weather the downturn from the coronavirus outbreak, noting he does not expect a recession.
“Later in the year, obviously the economic activity will pick up as we confront this virus,” Mnuchin said Sunday on ABC. “The real issue is not the economic situation today. The real issue is what economic tools are we going to use to make sure we get through this.”
Mnuchin’s comments came after the U.S. stock market tumbled last week, ending the longest bull market on record. The Dow Jones Industrial Average and S&P 500 ended the week in a bear market, …continued .
[Source: CNBC News]