Its not politically correct in Mnuchin's circles to use the bailout term but he is not fooling anyone.
When you are in the economic foxhole everyone finds Keynes.
Mnuchin:
- doesn't expect a US recession
- "Later in the year, obviously the economic activity will pick"
- "There's no question, because of the things that we're requesting to do, there are parts of the economy shutting down or slowing down dramatically."
- "We have a lot more we need to do with Congress"
- "We will make sure the economy recovers."
- "certain tools that were taken away that I'm going to go back to Congress and ask for."'
- banks have "extraordinary conditions in both capital and liquidity."
Plenty more here at the Bloomberg report.
