Treasury Secretary warns US could see 20% unemployment rate due to coronavirus, source says

Treasury Secretary Steven Mnuchin speaks during a press briefing at the White House on March 17. Drew Angerer/Getty Images

US Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN. Mnuchin's comments came as he urged Republican senators to act on economic stimulus measures totaling $1 trillion designed to avert that kind of worst case scenario.

In the same meeting, Mnuchin also said he is concerned the economic ramifications of the coronavirus pandemic could be worse than the 2008 financial crisis, the source said. Mnuchin's comments, which were first reported by Bloomberg News, come amid a rising sense of urgency at the White House and on Capitol Hill to confront the increasingly serious threat of the coronavirus pandemic — on both the public health and economic fronts.

Source: Education Headlines (educationheadlines.net)

So fear mongering is how cnn brings the country together in this time of need?

Only up to 20 per cent?

Nice of him to warn one party. Guess not all of Americans matter to this administration

What do they care? They just want to give our tax dollars away.

这跟领导者的智慧与方向有关系！不作为的结果那只会更惨

try 50% if you can't open, you don't need workers.

Vegas is shut down at midnight. Casinos closed for at least 30 days and tomorrow you can no longer get married here for 30 days. All nonessential closed by tonight and noon tomorrow. This will get so much worse. 2008 will look like a vacation.

Thank God has our unemployment at record lows and then open border democrats let it in worse

Trump ruined an economy that was handed to him on a silver platter.

So umm I guess this is Obama’s fault now?😒

Millions could die from this virus .. dont tell me about unemployment!

Yikes!

To all yankees: It's time to stop asking yourselves the question 'What can I do for my country?' and start wondering another: 'Does my country REALLY love me?'

Something tells me they are predicting a high percentage so that when it doesn’t get that high, trump can get credit for “saving” the economy

Well, of course. You’re all making businesses close. I’m surprised it’s not 80%.

And just like that, a social welfare healthcare system focused on patient care instead of profit, doesn't seem like that bad an idea after all.

When will Obama take credit?

Coronathanos after it extinguishes half the universe

Yes and that's because of Trump's negligence 'and poor mindset thou rich ......

Coronavirus has led to a massive economic slowdown. Get all the Facts along with the Map of countries that have confirmed cases of the CoronavirusOutbreak here. COVID

But but Donald Trump made the unemployment rate the lowest it’s ever been. I thought the virus was a Democrat Hoax?

Is a scare tactic to dole out tax payer money to big corporations? On the other hand it’s easy to see a big jump in unemployment.

made in usa not china

Government incompetence is going to drive us into the next Great Depression.

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