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“There is a significant risk of not restarting,” said the minister. He affirmed that those who return to work must work in safe conditions, in some workplaces they must comply with the social exclusion standards introduced so far.
Unemployment, currently at 14.5 percent, was not very worrisome, “It is not a high rate, since it did not turn out that way because the economy is malfunctioning, but because we closed the economy,” he said. He added that he believes the unemployment camp could gain 25 percent. Mnuchin also emphasized that the White House was ready to negotiate another stimulus package, but that, as he put it, he would have to wait “a few weeks.” “The president and I are saying that we have released a lot of money, but that’s not all in the economy yet, so let’s wait a few more weeks,” he said. He added: “It is simply a matter of seeing if the sums provided so far are used well before billions of other taxpayer dollars are used.”
Kevin Hassett, one of the White House’s economic advisers, confirmed on CNN television that the government expects the current camp of more than 20 million unemployed to expand further. He predicted unemployment by twenty percent. He also talked about the same thing on CBS’s weekly political vitamins show on television, though he called it 20 percent “the lower limit.” Hassett said the economy could start in mid-summer, predicting strong growth for the third and fourth quarters of the year.
According to the president of the Minneapolis federal reserve system, which acts as the central bank in the United States, “the worst is yet to come.” Neel Kashkari put it on ABC television: “We can gradually reduce the restrictions, but then we have to tighten it again because the virus continues to spread. To resolve the situation in the economy, we need to resolve the virus situation.” Kashkari believed that economic growth would be slower, more gradual than the government expected. According to him, a “strong economy” needs a breakthrough in vaccines, virus tests, and cures.
Republican Ohio Governor Mike DeWine also spoke on Fox television. He defended his measures to restart the economy, but added that the necessary precautions had also been taken to guarantee public health. He said it was important to follow basic precautions such as social isolation, wearing mouth masks or frequent hand washing. “Whatever we do, the economy will not start until people regain their confidence. And we will try to restore their confidence,” he said.
However, Governor DeWine noted that the White House recommendation to restart the economy has not been followed only after a reduction in the number of new illnesses for two consecutive weeks. “We just want that to be the case, but we are not here,” DeWine said. He added, however, that the number of new patients transported to the hospital was stagnant. “No one underestimates the difficulties, but we still had to restart,” he emphasized.
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