US Treasury Secretary Steven Mnuchin tried to sound optimistic in a Fox New Sunday interview, and predicted a rebound in the economy is Q3. He said, “I think as we begin to reopen the economy in May and June, you’re going to see the economy really bounce back in July, August, September.”
“And we are putting in an unprecedented amount of fiscal relief into the economy,” he added. “You’re seeing trillions of dollars that’s making its way into the economy and I think this is going to have a significant impact.” “As businesses begin to open, you’re going to see demand side of the economy rebound.”
Separately, New York Governor Andrew Cuomo outlined the phased-in reopening plan of the state in details on Sunday. Construction and manufacturing upstate, which are seen as being low risk, will begin reopening in the first phase starting may 15. After at least two weeks, phase two could begin involving evaluation businesses on a case-by-case basis, on how essential they are. The reopening of the more “problematic” downstate New York City, Nassau, Suffolk, Westchester, “they all have to be coordinated”, Cuomo said.
