Mnuchin: Jobs Numbers Will Get Worse Before They Get Better

The transcript discusses the severe economic decline and job losses, with Treasury Secretary Steve Mnuchin predicting a difficult quarter but expecting recovery in the third and fourth quarters. The CARES Act's implementation is reviewed, focusing on the $2.2 trillion relief for individuals and small businesses. Mnuchin emphasizes the need to support jobs but stops short of mandating companies to retain workers. A Congressional report highlights limited use of funds for state and local governments. Over 36 million have filed for unemployment, and the administration's relief efforts, including the Paycheck Protection Program, are detailed. Political debates continue over future economic measures, with uncertainty about passing new relief bills.

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