Home WORLD Mnuchin says seeing large second quarter unemployment, negative economic data

Mnuchin says seeing large second quarter unemployment, negative economic data

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FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin answers questions during the daily coronavirus task force briefing at the White House in Washington, U.S., April 21, 2020. REUTERS/Jonathan Ernst/File Photo

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he is continuing to see large unemployment numbers and other negative economic indicators during the second quarter, but the situation is expected to improve as the U.S. economy starts to reopen.

“Working closely with governors, we are beginning to open the economy in a way that minimizes risks to workers and customers,” Mnuchin said in written testimony to the Senate Banking Committee. “We expect economic conditions to improve in the third and fourth quarters.”

Reporting by David Lawder; Editing by Chizu Nomiyama

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