Treasury Secretary Mnuchin says U.S. businesses could reopen by May

Treasury Secretary Steven Mnuchin listens as President Donald Trump speaks during a conference call with banks on efforts to help small businesses during the coronavirus pandemic, at the White House, Tuesday, April 7, 2020, in Washington. (AP Photo/Evan Vucci)

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UPDATED 10:07 AM PT — Thursday, April 9, 2020

Treasury Secretary Steven Mnuchin said he believes businesses in the U.S. could reopen by next month.

In an interview Thursday, he assured the government has been working to make sure every small business has money. He credited both large and small banks for doing a great job in handling the huge amount of small business loan applications in the recent days.

Mnuchin noted that as soon as President Trump feels comfortable with progression in fighting the ongoing coronavirus pandemic, businesses will reopen and that could possibly happen as early as May.

“I think as soon as the president feels comfortable with the medical issues, we are making everything necessary that American companies and American workers can be open for business,” he stated. “And that they have the liquidity they need to operate their business in the interim.”

The treasury secretary noted the “big news today” has been the Federal Reserve’s plan to create $2.3 trillion in financing for businesses and municipalities.

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