WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said the U.S. economy would have a “rough quarter” due to the coronavirus, but the underlying fundamentals were sound and it was a great time for long-term investors to put money into the United States.
Mnuchin told Fox Business that small businesses would receive details on Monday on where and how to apply for some $350 billion in emergency virus-relief loans, and the Trump administration was ready to ask Congress for more funding if the current program did not suffice.
“I expect that with all of this liquidity we’re putting into the economy to get through the next couple of months, when we’re ready, we’ll be ready and the economy will surge back,” he said.
(Reporting by Andrea Shalal and Doina Chiacu; Editing by Chizu Nomiyama)
