Federal Treasury chief assures that the economic recovery of the United States will not take years

Federal Treasury Chief Assures That The Economic Recovery Of The United States Will Not Take Years

The economic recovery of the United States after the coronavirus pandemic will be a matter of months and not years, Treasury Secretary Steven Mnuchin foresaw on Sunday, who agreed with congressional leaders on the possibility of reaching an agreement soon in around a second small business relief package.

“I think it will be months, I definitely do not think it will be years,” the official said in an interview with the “State of the Union” program of the US channel CNN, when asked about how long it could be before the US recover the “strong position” of its economy, which in a month of confinement by COVID-19 already has 22 million applications for unemployment benefits.

The situation of thousands of households in the country, many of which have started receiving aid checks to contain the economic impact of the pandemic, has encouraged conservative groups to call protests to demand that state governors relax their measures. confinement and allow a return to activity in certain sectors.

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Mnuchin was confident that the United States will overcome the virus, which in the country has caused more than 700,000 infections and at least 39,000 deaths, which currently places it as the most affected in the world by the disease.

“We are going to have great advances, I know that not only in the tests but in the medical front,” he said.

The Treasury secretary considered that the Administration of President Donald Trump may be close to reaching an agreement with Congress on a new economic relief package.

“I am hopeful that we can do it,” said the official, who said he hoped the Senate could approve the initiative tomorrow and that the largely Democratic House of Representatives could do the same on Tuesday.

Asked about it on the same show, Chuck Schumer, leader of the Democratic minority in the Senate, said he was very hopeful that they could reach an agreement “tonight or early tomorrow.”

On April 8, the US Congress began to analyze an additional aid package to contain the economic impact of the coronavirus, with more funds for small and medium-sized companies, as well as for state and local governments, and whose total amount could amount to to $ 500,000 million.

On March 27, the United States House of Representatives had overwhelmingly approved a fiscal stimulus package of more than $ 2 trillion, which represents about 10% of the country’s gross domestic product and had already been endorsed by the Senate, to try to alleviate the economic consequences of the disease.

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