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Mnuchin Warns Virus Could Yield 20% Jobless Rate Without Action

  • Scenario assumes no government intervention amid virus crisis
  • White House is seeking $1 trillion or more in stimulus
Bloomberg business news
Trump Says 'We're Going Big' on Coronavirus Aid
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Treasury Secretary Steven Mnuchin raised the possibility with Republican senators that U.S. unemployment could rise to 20% without government intervention because of the impact of the coronavirus, according to people familiar with the matter.

Mnuchin discussed the scenario with the lawmakers on Tuesday as he proposed an economic stimulus of $1 trillion or more.