Treasury Sec. Mnuchin warns jobless rate could hit 20 percent without federal response: report
In an interview just before noon on CNBC Secretary Mnuchin insisted that he was speaking “metaphorically” and that unemployment won’t spike that high.
(From The Hill)
Treasury Secretary Steven Mnuchin told Republican Senators Tuesday that without government intervention the U.S. could hit 20 percent unemployment because of the coronavirus, Bloomberg reported, citing people familiar with the matter.
The Treasury secretary did not predict the U.S. would reach that level, but said he believed the outbreak has the potential to do more economic damage than the 2008 financial crisis as he argued for financial stimulus to hourly workers and businesses hurt by “social distancing” amid the outbreak.
Reprinted from: https://www.ac2news.com/2020/03/mnuchin-warns-jobless-rate-could-hit-20-percent-without-federal-response-report/
