Economics
Mnuchin Wants More Emergency Tools But Doesn’t See Recession
- Predicts economic activity will pick up later in the year
- Says help to come for struggling industries ‘not a bailout’
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Steven Mnuchin said he doesn’t expect the coronavirus pandemic to tip the U.S. economy into recession, even though growth will inevitably slow as many businesses shut down operations for a time.
The U.S. Treasury Secretary also said Sunday he wants to reinstate certain powers used during the 2008 financial crisis to help buttress the economy from the economic shock now on the way.