The U.S. economy will start to recover in the third quarter after a period of reopening in May and June, Treasury Secretary Steven Mnuchin said Sunday.
The trillions of dollars in government spending “will have a significant impact” to spur growth, he said. “As businesses begin to open, you’re going to see the demand side of the economy rebound.” The Treasury Secretary refused to get drawn into the brewing fight on Capitol Hill over the next round of coronavirus relief, which is expected to include billions of dollars of federal aid to states and local governments. Local governments have been caught in a vise in the wake of the pandemic, finding their health-care costs soaring and sales-tax revenue shrinking.
rasecfx remindmetweets In three months
I predict a U recovery and not a V! Q2 is toast. Q3 we begin to start crawling. Q4 we are picking up speed! 9 months to recover. Just watch that inflation
Maybe May or June of 2025
No once the virus is under control- I am not going anywhere if this virus is out there flaming away🤡🤡🤡🤡
lol bookmarking this one to use later.
3/ you might not even have enough business to break even. This will break the resolve of some business owners and cause even more despair than during the lockdown, when they thought they were only doing badly because of government regulations.
2/ you might open but you won't be able to service the same number of people at a time because of the need for social distancing. There are will also be a significant drop in the number of people who seek your services as compared to January or February, before the shutdowns.
1/Actually I expect even more harm when things open up. Right now we just our hopes and optimistic expectations of what will happen when we reopen. When we actually do it though we will have to face the bitter realities, the pandemic itself has caused a demand crisis.
WinfieldSmart
Thought this was john oliver for a quick sec
Really
Let’s open and allow that to happen! The US is GREAT and WE are capable of bringing the economy back. It takes the little things to make the bigger things happen. Little things= ACTION by the American people! Bigger things= Rebuilding of the economy! If it to be, it is up to me!
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Yes if -20% GDP in Q1 to -5% GDP in Q2 is “bouncing back”
They want to reelection for their position Otherwise，They will face lawsuit for their mistakes
So I am supposed to listen to this dude, just like Larry Kudlow who said we have an airtight containment of the virus 😂
Hope he’s right
Has he said anything at all (about anything) that sharply contradicts what the POTUS has been saying?
Was he on a lie detector?
Munchkin are you for real—it will take at least 3 years to bounce back to where the economy is now— you are fake news & should resign 💰💵🤥👿
This jackass also believes in Bigfoot
LOL ok. The media has freaked out so many people that half the country is willing to tattle tale on the half that dare leave their houses. Good luck getting full participation when things are 'allowed' to reopen.
What do you expect from theft banker masters who run the treasury? This guy looks like a guy from Zombie apocalypse- can you trust his Bullshit? He is part of that spin and BS that we are accustomed.
without providing any evidence it's just happy talk stevenmnuchin1
Permabullshit
Now idiot
Mnuchin economy = s & p 500 stock price = 1% wealth = 90% US CITIZENS DIED
I really believe him.
Surely, the economy will 'bounce back' from negative growth, the state it's in right now. But, COVID19 will leave with us, and the rest of the world, lasting changes that will limit economic growth for the next several years. PandemicCOVID19
Clueless
These guys are always, always, wrong. Bank on a long slow slug if these guys are saying immediate rebound
Of course he’s going to say that
Doubtful but keep trying to pump
NERDS)))
inflation
There is nowhere else to go but up when lockdowns are over. So it will seem like things are booming right into the election.
like this
At this point, I do not believe anything the administration tells me. I will not take Malaria drugs, I will not inject Lysol and I do not believe Mnuchin knows what he is talking about.
A good mountain trekker does not blame the trees if he lost his way but rather his own incompetence in reading the compass properly.
I think he’s somewhat right, but that won’t really happen until the vaccine is given to everyone
This is the same guy who thinks $1,200 stimulus checks are going to bridge people’s “liquidity gap” for 10 weeks...
For every day of additional shutdown results in an additional month of depression....
Both these guys are completely screwing the American Citizens and blowing the money on Billion Dollar Companies that don’t need it just to prop up the market. Meanwhile Americans get $1200.00 one time payment! What a Joke!
The U.S. economy is not like a light switch that you can turn off or on. Yes you can do that with government workers, but not with private business. We have lost more jobs today, than were lost in the great depression at the worst point.
VIX since 1986
Unemployment since 1929
Random unemployed person.... one of 25 million + on “reopening day” looking for work..... looking ,weeping and looking some more... $spy bitcoin coronavirus Trump
This is 'happy talk' for an audience of one.
The massive debt accrued from all the stimulus packages will still remain.
The economy will have a slow climb back over the next 24 months. Many unemployed will not be immediately employed since ramp up of businesses is not immediate and only enough staff for the demand. Immigration had been our primary population growth vector, that will be paused.
Of course he has to say that - reality is no way that’s gonna happen - we’re in a world recession headed to depression! We can’t even do adequate testing! Need a vaccine before economy can even start back up in a meaningful way!
Should be IF reopened. Living in a state where the governor won't present a timeline and can't really present a plan.
Easy to say when you're worth about $300 million.
Year : 2050 QE still on
Yes agree but when Because bounce once reach 0 make no sense
Correction: some of....
It will bounce back, but we'll probably still be in a severe recession on election day. Donald is finished. Stick a fork in him, done.
You know what else will bounce back? Coronavirus deaths
The year 2022
ok
AMERICA ALWAYS BOUNCES BACK... It'll take some x... But we ALWAYS come back 💯
I think so to.