NEW: Despite forecasting an economic slowdown, Treasury Secretary Steve Mnuchin tells jonkarl he does not think the coronavirus pandemic will cause a recession: 'Later in the year, obviously the economic activity will pick up as we confront this virus.'
"I believe the vast majority of Senators in both parties will agree we should act swiftly to secure relief for American workers, families, and small businesses," Senate Majority Leader Mitch McConnell said in a statement.Treasury Secretary Steven Mnuchin speaks with reporters outside White House in Washington, DC, on March 13, 2020.
Treasury Secretary Steven Mnuchin speaks with reporters outside White House in Washington, DC, on March 13, 2020., Mnuchin told ABC News Chief White House Correspondent Jonathan Karl on Sunday,"We will use whatever tools we need to make sure the economy and hardworking Americans get through this."
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WSJ Survey: Coronavirus to Trigger U.S. Economic Contraction in Second QuarterEconomists sharply cut forecasts for the U.S. economy this year, predicting it will contract in the second quarter and raising expectations for a recession as the coronavirus spread around the world.
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House Democrats and White House reach deal on coronavirus stimulus packageHouse Speaker Pelosi and Treasury Secretary Mnuchin reached a deal on an economic stimulus package to address the coronavirus, providing paid sick leave for workers and pumping billions of dollars to states for food programs and unemployment benefits.
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Wall Street weekahead: Investors hope Fed can help calm markets as big rate cut expectedAn economic stimulus plan, another potential deep rate cut by the Federal Reserve and quality results from economic bellwether FedEx - these are some potential market moving impacts that investors will be fixated on next week
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Investors hope Fed can help calm markets as big rate cut expectedInterest rate cuts won't cure the coronavirus but investors are still hopin...
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How Congress responded to swine flu in 2009 vs. coronavirus in 2020Congress and the Trump administration are amid intense negotiations over a second bill to help combat impacts from the coronavirus pandemic, this one aimed at staving off a recession amid economic downturn.
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Saudi Arabia-Russia oil price war explained: How long will it last and who is likely to win?Oil markets have been thrown into turmoil by a slowdown in demand caused by coronavirus and a stand off between Moscow and Riyadh.
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