Key Points: Treasury Secretary Steven Mnuchin said that shutting down the economy for a second time to slow Covid-19 isn't a viable option."We can't shut down the economy again. I think we've learned that if you shut down the economy, you're going to create more damage," Mnuchin told CNBC.The Treasury secretary's comments Thursday morning came as Wall Street grew more concerned about a second wave of coronavirus cases in the U.S.Mnuchin also said that he's prepared to return to Congress to request additional fiscal spending to help juice the U.S. economy if needed.VIDEO2:0902:09Treasury Secretary Steven Mnuchin: 'We can't shut down the economy again'Squawk on the Street
Treasury Secretary Steven Mnuchin said Thursday that shutting down the U.S. economy for a second time to combat the spread of Covid-19 isn't a viable option and could cause even more headaches for Americans.
"We can't shut down the economy again. I think we've learned that if you shut down the economy, you're going to create more damage," Mnuchin told CNBC's "Squawk on the Street."
"And not just economic damage, but there are other areas and we've talked about this: Medical problems and everything else that get put on hold," he added. "I think it was very prudent what the president did, but I think we've learned a lot."
The Treasury secretary's comments Thursday morning came as Wall Street grew more concerned about a second wave of coronavirus cases in the U.S. Texas has reported three consecutive days of record-breaking Covid-19 hospitalizations while nine California counties are reporting a spike in new coronavirus cases or hospitalizations of confirmed cases, AP reported Wednesday.
The uptick in cases amid U.S. reopening efforts has made investors nervous that states may have to reimpose business closures to again try to slow the spread of the coronavirus. That pessimism contributed to the Dow Jones Industrial Average's 800-point slide Thursday morning and the S&P 500's 2.6% loss.
Stocks that would benefit the most under a total U.S. reopening led the way lower, with United Airlines down 10%, cruise operator Carnival losing 8.8% and Gap shedding 6.6%.
Mnuchin also said Thursday that he's prepared to return to Congress to request additional fiscal spending to help juice the U.S. economy if needed.
"We have the Fed program, we have Main Street [lending program] which is going be now up and running, and we're prepared to go back to Congress for more money to support the American worker," he said. "So we're going to get everybody back to work. That's my No. 1 job working with the president and we're going to do that."
House Democrats last month passed a $3.5 trillion stimulus bill known as the "HEROES Act" that would prolong jobless benefits through the end of 2020 and provide relief for cities and states that have seen a marked drop in tax revenues. Thus far, Senate Republicans have opted for a wait-and-see approach and await more data, such as Friday's better-than-expected jobs report, before voting to widened the federal deficit.
The Democrats' bill would be in addition to the $2 trillion CARES Act, which President Donald Trump signed in March.
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原文地址：https://www.cnbc.com/2020/06/11/treasury-secretary-mnuchin-says-we-cant-shut-down-the-economy-again.html