Mnuchin Optimistic Many U.S. Businesses Could Reopen In May

He said the Treasury's ensuring businesses have "liquidity to operate in the interim."
Posted at 2:59 PM, Apr 09, 2020

Treasury Secretary Steven Mnuchin says he's optimistic that U.S. businesses could reopen in May.

Mnuchin appeared on CNBC Thursday to promote a new plan that allows up to $600 billion total in loans for businesses, as well as hundreds of billions in loans for households and state and local governments.

When asked if he thought U.S. businesses might reopen in a month, he replied: "I do. ... As soon as the president feels comfortable with the medical issues, we are making everything necessary that American companies and American workers can be open for business."

The federal government implemented social distancing guidelines in mid-March as an effort to slow the spread of the coronavirus. They were extended through the end of April.

The Labor Department reports that in just the past week, 6.6 million people filed for unemployment. This brings the total number of unemployment claims to 16.8 million in the past three weeks.