“We couldn’t be more pleased with the success of the PPP,” Treasury Sec. Mnuchin says. “There’s no question in my mind the increase in jobs was a direct result of the PPP and reopening the economy.”
United States Secretary of the Treasury Steven Mnuchin testifies at the Senate Small Business and Entrepreneurship Hearings to examine implementation of Title I of the CARES Act on Capitol Hill in Washington, DC, June 10, 2020.Treasury Secretarysaid Thursday morning that shutting down the U.S. economy for a second time to combat the spread of Covid-19 isn't a viable option and could cause even more headaches for Americans.
"We can't shut down the economy again. I think we've learned that if you shut down the economy, you're going to create more damage," Mnuchin told CNBC. "And not just economic damage, but there are other areas and we've talked about this: Medical problems and everything else that get put on hold. I think it was very prudent what the president did, but I think we've learned a lot.
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