Treasury Secretary Steven Mnuchin said he anticipates most of the U.S. economy will restart by the end of August after the coronavirus has led to social distancing measures that have shuttered many businesses.
“We’re operating under the environment that we are going to open up parts of the economy and we’re looking forward to -- by the time we get later in the summer -- having most of the economy, if not all of the economy, open,” he said early Wednesday on Fox Business Network.
House lawmakers on Thursday are set to pass another US$484 billion in funding to add to the US$2.2 trillion virus relief package signed into law less than four weeks ago.
By the end, small businesses will have had access to more than US$600 billion in federal assistance through the Small Business Administration and emergency disaster loans.
“I hope it is enough,” Mnuchin said.