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When asked on ABC’s “This Week” if the US was now in an economic recession as some have suggested, Munchin said, “I don’t think so.”
“The real issue is not the economic situation today. The real issue is what economic tools are we going to use to make sure we get through this, because this is a unique situation,” he said. “Later in the year, obviously, the economic activity will pick up as we confront this virus.”
“The President was very clear — he wanted to address a very important point, which was he made the move to shut down travel so that we shut down more cases coming in,” Mnuchin said. “He wanted to reassure the American public — I don’t think in an Oval Office address you can address every single issue as you’re discussing it.”
Trump neglected in his speech Wednesday to mention that the European travel ban would not apply to Americans, and he inaccurately said the ban would apply to cargo as well as people.
“I don’t think he got things wrong at all,” Mnuchin said. “And we were very clear that people misinterpreted the comment on cargo.”
Appearing on “Fox News Sunday,” Mnuchin predicted an economic revival in the months ahead.
“If the medical professionals are correct and we’re doing all the things, I expect we’ll have a big rebound later in the year,” Mnuchin said.
“This isn’t like the financial crisis. This will have an end to it as we confront the virus.”
This story has been updated with additional details from Mnuchin’s Sunday interview.
CNN’s Jill Disis and Laura He contributed to this report.
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