Treasury Secretary Steven Mnuchin did not seem too concerned about the massive unemployment report. In fact, he was outright dismissive.
Mnuchin shows no heart
It is sad that I did not have to do a double-take after listening to the Treasury Secretary. After all, this is what we expect of this administration.
The Hill reported as follows.
Treasury Secretary Steven Mnuchin said on Thursday the surge in unemployment claims reported this week was “not relevant” because of the relief coming from a government stimulus package just passed by the Senate.
“I just think these numbers right now are not relevant,” he said when asked about the initial jobless claims during a CNBC interview. “The good thing about this bill is, the president is protecting these people.”
The Labor Department released data on Thursday showing that initial jobless claims rose to 3.28 million the week of March 15-22, an elevenfold increase over the previous week, and nearly five times the highest level on record. …
Morgan Stanley projected that unemployment could rise to 12 percent in the second quarter of the year, 2 points above the highest level seen during the Great Recession.
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