Mnuchin: No Recession Coming

17 Mars, 2020, 12:22 | Auteur: Auguste Feret
  • Steve Mnuchin minimizes the possibility of a recession amidst a coronavirus

Mnuchin spoke as many businesses in the US and around the world grind to a halt in response to the fast-spreading virus. "As I've been saying, I think we're in the second inning of nine innings, and we will use whatever tools we need to make sure the economy and hardworking Americans get through this". "That is an unprecedented state of affairs", he informed the ABC program.

"I wouldn't focus on the technical issue of whether we are going to be in a recession or not", Mnuchin told host Chris Wallace, arguing the administration is more concerned about what it can immediately do to blunt the impact of the outbreak. On Sunday, Mnuchin said he and Pelosi have been collaborating on ways to help airlines, cruise line companies and the hospitality industry during the outbreak.

American Airways Inc (AAL.O) on Saturday stated it plans to chop 75% of its worldwide flights by means of Could 6 and floor nearly all its widebody fleet.

Delta, American Air Lines and United Airlines, the three largest US airlines, are in talks with the USA government about potential assistance, but no details have emerged.

The concern over the spread of the coronavirus in the United States has shocked the financial markets.

Senior US health official warns that America has not `` reached our peak' in coronavirus cases

Fauci, director of the Nationwide Institute of Allergy and Infectious Illnesses, informed ABC Information' "This Week" program he was assured the US authorities was doing all the pieces wanted to comprise the outbreak and avert a worst-case state of affairs.

The disease has infected some 156,465 people have been around the world, and 5,838 have died, according to a Reuters tally. America has reported not less than 59 deaths.

Fauci told ABC that early US moves to block travel from China had helped, as would new restrictions on travel from Europe.

"This is a unique circumstance", Mnuchin said at a Saturday press conference at the White House.

"They've been discussed, but not seriously", he said. "I don't see that proper now within the fast future". "And we have been very clear that people have misinterpreted the comment on freight". "We are now going back to Congress and focusing this week on the airlines industry, the hotel industry - there's no question that the travel industry has been impacted like we've never seen before".

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