Steven Mnuchin, the American Treasury Secretary, says that the U.S. economy will rebound from coronavirus crisis during third quarter of 2020.
Once the U.S. economy reopens during May and June, Americans and the rest of the world can witness a rebound. “We’re going to see the economy bounce back in July, August and September,” Mnuchin said to Fox News on Sunday.
He says that we will witness a significant impact of trillions of dollars invested to the economy both by the government and the Fed. “As businesses begin to open, we’re going to see a strong demand side of the economy,” the Treasury Secretary of Trump’s administration added. Yet, he pointed out that easing restrictions must be followed by a larger testing on coronavirus.
More than 26 million of people have applied for unemployment benefits in the U.S. since the coronavirus outbreak. The Congress has approved massive stimulus package to support the U.S. economy with the overall amount of $2 trillion, and more hundreds of billions should be discussed. If everything goes as planned, Mnuchin’s predictions will fulfill.