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Jobs lost during coronavirus will return as US economy reopens: Mnuchin
Mnuchin: We will conquer coronavirus, reopen the economy
Treasury Secretary Steven Mnuchin discusses the importance of taking advantage of low-interest rates and points to why taxpayer money can’t be spent frivolously with regard to passing stimulus packages in Congress.
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Treasury Secretary Steven Mnuchin assured FOX News' Martha MacCallum on Wednesday that the jobs of the more than 33 million Americans who have filed for unemployment since March as a result of the coronavirus pandemic will be recreated once the economy is reopened.
"I think we're doing everything to rebuild our economy and I think that we will rebuild our economy," Mnuchin said. "When you literally turn off the economy, you create big unemployment. When you open up the economy, you're going to create those jobs back."
Mnuchin added that he is "very sympathetic to the American business[es] and the American workers" that are dealing with the impact of the coronavirus.
"This was nobody's fault, this was a virus," Mnuchin said. "This was not the American public's fault."
CITIES WITH HIGHEST UNEMPLOYMENT RATES
House Speaker Nancy Pelosi unveiled a more than $3 trillion stimulus package proposal known as the Heroes Act on Tuesday, which includes $1 trillion for states and cities, “hazard pay” for essential workers and a fresh round of direct cash payments to individuals.
“We must think big, for the people, now," Pelosi said. “Not acting is the most expensive course."