- Treasury Secretary Steven Mnuchin said Thursday that the US economy could reopen in May if President Donald Trump decides the public health crisis is under control.
- When CNBC's Jim Cramer asked Mnuchin if "we could be open for business in the month of May," the secretary responded, "I do."
- "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," Mnuchin said.
- Mnuchin told CNBC on Wednesday that it will likely take longer for New York, the epicenter of the coronavirus in the US and one of the country's most significant economic hubs, to reopen.
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Treasury Secretary Steven Mnuchin said Thursday that the US economy could reopen in May if President Donald Trump decides the public health crisis is under control.
When CNBC's Jim Cramer asked Mnuchin if "we could be open for business in the month of May," the secretary responded, "I do."
"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," Mnuchin said during the interview on Thursday morning.
As of this week, 42 US states, Guam, Washington, DC, and Puerto Rico - home to 95% of the US population - have issued stay-at-home orders, which require residents to remain in their homes except for essential activities, including trips to grocery stores and pharmacies, solo outdoor exercise, and medical appointments.
Mnuchin told CNBC on Wednesday that it will likely take longer for New York, the epicenter of the coronavirus in the US and one of the country's most significant economic hubs, to reopen amid the ongoing pandemic.
"Obviously we'd like to open up as much GDP as we can," Mnuchin said, but added, "my expectations are that places like New York are going to take a little bit longer."
Trump tweeted on Wednesday afternoon that the US economy will reopen "sooner rather than later."
"Once we OPEN UP OUR GREAT COUNTRY, and it will be sooner rather than later, the horror of the Invisible Enemy, except for those that sadly lost a family member or friend, must be quickly forgotten," he wrote. "Our Economy will BOOM, perhaps like never before!!!"
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