Trump Administration Acknowledging Economic Catastrophe After Months of Optimism – By Andrew Soergel (US News) / May 12 2020
The president and members of his administration are coming to grips with economic and public health realities that they had previously doubted – finally.
After reports surfaced in late March that Steven Mnuchin had suggested to lawmakers behind closed doors that unemployment would hit 20% if stimulus legislation wasn’t passed in short order, the treasury secretary vowed that the administration was “not going to let that happen.”
“I didn’t in any way say I think we’re going to have that. And, let me be clear: If we follow the president’s plan, we will not have it,” Mnuchin defiantly said during a March 18 appearance on CNBC. “This U.S. economy is going to come roaring back once we conquer this disease.”
The comments stand in stark contrast with his more recent projections.
Continue to article: https://www.usnews.com/news/economy/articles/2020-05-12/trump-administration-acknowledging-economic-catastrophe-after-months-of-optimism
