The coronavirus economic relief bill being finalized by the U.S. Congress will include a one-time $3,000 payment for families and allow the Federal Reserve to leverage up to $4 trillion of liquidity to support the nation's economy, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Mnuchin,
WASHINGTON - The coronavirus economic relief bill being finalized by the U.S. Congress will include a one-time $3,000 payment for families and allow the Federal Reserve to leverage up to $4 trillion of liquidity to support the nation's economy, U.S. Treasury Secretary Steven Mnuchin said on Sunday.
Mnuchin said the U.S. economy would clearly take a hit from the health crisis, but should rebound once the new coronavirus has been contained. Mnuchin downplayed a question about a possible recession, calling it a"technical question" that was not"terribly relevant" in the current situation since the government was effectively shutting down large parts of the economy to slow the virus."
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