Treasury Secretary warns US could see 20% unemployment rate
Be careful out there. This isn't the time to be jumping into just any deal. States like Florida, Kansas have just announced cancelation of rest of school year. More states will follow.. Honestly, I'm shocked how naive people are about this situation right now. Thinking it will pass in a few months?? It will take at min a year after trials just to get a safe vaccine that the general population can take.
"Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN.
Mnuchin's comments came as he urged Republican senators to act on economic stimulus measures totaling $1 trillion designed to avert that kind of worst case scenario.
In the same meeting, Mnuchin also said he is concerned the economic ramifications of the coronavirus pandemic could be worse than the 2008 financial crisis, the source said.
Mnuchin's comments, which were first reported by Bloomberg News, come amid a rising sense of urgency at the White House and on Capitol Hill to confront the increasingly serious threat of the coronavirus pandemic — on both the public health and economic fronts.