Mnuchin: GDP And Unemployment Will Bounce Back To Where They Were Once We Kill Coronavirus | Video | RealClearPolitics

Mnuchin: GDP And Unemployment Will Bounce Back To Where They Were Once We Kill Coronavirus

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Treasury Secretary Steven Mnuchin told "FOX News Sunday" that although economic indicators are cratering during the coronavirus lockdown he predicts a quick rebound once we "kill this virus and reopen the economy."

"It's hard to predict these numbers because we've never had anything like this where we shut down the U.S. economy for medical reasons," Mnuchin said. "The economy was in very, very good health when we shut it down, and let me just say, we're very sympathetic to the people who don't have jobs, and that's why the president was very clear he wanted me to work with Congress on a bipartisan basis quickly to support those people."

"I hope that all businesses rehire those people now that they'll have the money, two, people will have enhanced unemployment insurance, and three, people have direct deposit money in their accounts to provide liquidity."

"We want to get everyone back to work as quickly as we can, subject to the medical conditions."

"I don't know what the numbers are going to be this quarter. What I do think is we are going to kill this virus. We are going to reopen this economy. And in the third quarter of this year, you're going to see this economy bounce back with very large GDP numbers and low unemployment, back to where we were beforehand. So the president is determined that we protect people and reopen the economy when it's the right time," Mnuchin also said.



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