Posted on 04/27/2020 5:27:19 AM PDT by Enlightened1
Treasury Secretary Steven Mnuchin on Sunday predicted the U.S. economy hit hard by the coronavirus pandemic would rebound this summer and early in the fall even as Fox News’s Chris Wallace noted most experts have projected a longer, slower recovery.
“I think as we begin to reopen the economy in May and June you’re going to see the economy really bounce back in July, August, September,” Mnuchin said on “Fox News Sunday.”
“We are putting an unprecedented amount of fiscal relief into the economy," he added. "You’re seeing trillions of dollars that’s making its way into the economy, and I think this is going to have a significant impact.”
Wallace, however, noted that the Congressional Budget Office recently predicted the economy will contract by 5.6 percent for the year and that unemployment will peak at 16 percent in the third quarter.
In response, Mnuchin said that “we’ve never seen anything like this,” in reference to the pandemic. “We’ve closed the economy, and we’re going to open the economy. ... This is not the financial crisis [of 2008].”
Wallace also asked Mnuchin about the Paycheck Protection Program, the small-business loan fund that ran dry in mid-April and was later found to have awarded loans to major chains such as Ruth’s Chris Steak House and Shake Shack, both of which have since returned the aid.
“I just want to put this in perspective. We launched a brand-new program in an incredibly short period of time. ... The fact that we ran out of money just shows the success of this,” Mnuchin responded, noting that the program has since implemented guidance aimed at keeping more loans from going to national chains.
“I think you’re going to see this move in the right direction, and I think you’re also going to see
(Excerpt) Read more at thehill.com ...
I haven’t heard Trump criticize anyone other than Kemp on this, so I suspect there’s more to this story than what’s been reported.
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DJT may be upset that Kemp appointed the one other than the one DJT supported.
The economy will likely bounce back in republican-run states. The democrats states will lag far behind as their governors cling to power.
If true Trump needs to get over it.
Yeah, the appointed Senator is a corrupt witch. But we endure those on a pretty regular basis. The future of the country is at stake and Kemp may be showing us the way out.
Hybrids don’t reproduce.
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Hybrid vegetables do reproduce. They simply don’t always reproduce the exact same hybrid. I’ve grown produce from storebought tomatoes and mini red peppers. I’ve been pleased.
Campari tomatoes reproduce precisely and so do the storebought mini sweet peppers.
They aren’t sterile, like some feed corn is. They just erratically return to the various varieties used to create the hybrid.
Munchkin is a liberal moron. And he is wrong.
I’m ready, fearful lemmings arent.
I call B.S.
I'd guess I'm not the first!!
Depends on customer confidence.
Restaurants are super screwed. In good times they exist with very small margins. And if they were new start ups 3 to 6 months ago they won’t be back. 70% or so of new restaurants don’t make it one year.
Those are lemmings.
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