Economics

Mnuchin Backs New Stimulus Targeted to Stragglers in Reopening

Treasury chief says travel, retail businesses need help
Mnuchin won bipartisan praise for pandemic rescue efforts

Watch: Treasury Secretary Steven Mnuchin tells the Senate Small Business and Entrepreneurship Committee that the U.S. is going to need bipartisan legislation to put more money into the economy. (Source: Bloomberg)

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By Saleha Mohsin and Mark Niquette

June 10, 2020 at 4:05 PM UTC

Updated on

June 10, 2020 at 5:58 PM UTC

This article is for subscribers only.

Treasury Secretary Steve Mnuchin said the U.S. needs additional fiscal stimulus -- particularly for businesses struggling to reopen from coronavirus-related closures -- even as he said the economy has started to recover.

“I do think the economy is going to rebound significantly, but there is still significant damage in parts of the economy,” Mnuchin told the Senate Small Business and Entrepreneurship Committee on Wednesday.