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<blockquote data-quote="Box Ox" data-source="post: 4405271" data-attributes="member: 48469">Mnuchin is arguing that the unemployment rate could hit 20% if nothing is done.<a href="https://thehill.com/policy/finance/488143-mnuchin-warned-jobless-rate-could-hit-20-percent-without-federal-response" target="_blank">Mnuchin warns jobless rate could hit 20 percent without federal response: report</a>“Treasury Secretary Steven Mnuchin told Republican Senators Tuesday that without government intervention the U.S. could hit 20 percent unemployment because of the coronavirus, <a href="https://www.bloomberg.com/news/articles/2020-03-17/mnuchin-warns-virus-could-yield-20-jobless-rate-without-action-k7wheob8?srnd=premium" target="_blank">Bloomberg reported</a>, citing people familiar with the matter.The Treasury secretary did not predict the U.S. would reach that level, but said he believed the outbreak has the potential to do more economic damage than the 2008 financial crisis as he argued for financial stimulus to hourly workers and businesses hurt by &quot;social distancing&quot; amid the outbreak.”</blockquote>

[QUOTE="Box Ox, post: 4405271, member: 48469"] Mnuchin is arguing that the unemployment rate could hit 20% if nothing is done. [URL="https://thehill.com/policy/finance/488143-mnuchin-warned-jobless-rate-could-hit-20-percent-without-federal-response"]Mnuchin warns jobless rate could hit 20 percent without federal response: report[/URL] “Treasury Secretary Steven Mnuchin told Republican Senators Tuesday that without government intervention the U.S. could hit 20 percent unemployment because of the coronavirus, [URL='https://www.bloomberg.com/news/articles/2020-03-17/mnuchin-warns-virus-could-yield-20-jobless-rate-without-action-k7wheob8?srnd=premium']Bloomberg reported[/URL], citing people familiar with the matter. The Treasury secretary did not predict the U.S. would reach that level, but said he believed the outbreak has the potential to do more economic damage than the 2008 financial crisis as he argued for financial stimulus to hourly workers and businesses hurt by "social distancing" amid the outbreak.” [/QUOTE]

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