16:15 GMT30 May 2020
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    Oil Prices Slump, Coronavirus Fears Send Global Economy Into Turmoil (101)

    WASHINGTON (Sputnik) - The US economy is expected to come back strong in June once the lockdowns imposed to prevent the spread of the novel coronavirus (COVID-19) pandemic are lifted, Treasury Secretary Steven Mnuchin said in an interview on Monday.

    "I think so", Mnuchin told Fox News in response to a question whether the US economy would come roaring back from 1 June.

    Mnuchin said he anticipated at least a "rough" second quarter for the US economy from lockdowns that the authorities have imposed and President Donald Trump said will last until the end of April.

    "Our economy was in great shape", Mnuchin said. "Our economy was the economy that was really growing in leading the world and American business is going to get through this. I expect that with all the liquidity we're putting into the economy to get through the next couple of months when we reopen ... the economy will surge back."

    Mnuchin backed that assertion, saying, "We're ready to work with Congress if we need more enhancements or additional funds."

    Trump signed a $2-trillion stimulus package passed by US lawmakers to deal with the fallout from the COVID-19 pandemic, but said he anticipated that more funds will be needed.

    As of Monday, there were 143,239 confirmed cases of COVID-19 in the United States and 2,498 deaths from the pandemic.

    Oil Prices Slump, Coronavirus Fears Send Global Economy Into Turmoil (101)
    Steven Mnuchin, coronavirus, COVID-19, economy, US
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