Treasury Secretary Steven Mnuchin: Traditional economic models don’t work in shutdown scenario

Treasury Secretary Steven Mnuchin, joins "Squawk on the Street" to talk about the economic outlook as coronavirus infections surge across the American South and West. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
Treasury Secretary Steven Mnuchin indicated Thursday that the White House will not back the kind of sweeping coronavirus relief it supported in earlier bills, instead opting for narrower aid even as the pandemic ravages the United States.
Congress plans to return from a Fourth of July break later this month for two weeks of work before its August recess. Lawmakers aim to craft another relief package before the end of the month, but Republicans and Democrats appear at odds over how much aid to send a country still in the thick of fighting an outbreak that has killed more than 132,000 Americans.
While the Trump administration backs direct payments to individuals in the next bill, it has not embraced broad aid proposed by Democrats including hazard pay for essential workers, a longer extension of strengthened unemployment benefits, mortgage and rent relief and support for state and local governments.
Officials in Washington could find themselves at an impasse over how to handle an ongoing economic and health crisis that President Donald Trump has largely downplayed following two strong months of jobs growth.
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[@tinapitts6222]

I can’t wait till November!! I’m am so sick of the fools!!

[@adriansegura6352]

Biden 2020

[@juliebrewer5895]

Trump 2020 🇺🇸👍🇺🇸👍

[@MsHooper101]

fools are better than NAZI's any day, be careful what foolish things you wish for !

[@rayallen953]

Kanye 2020. Biden is gonna be a puppet president cuz he’s too senile he can’t remember where he is or who his sister and wife are, it’s gonna be aoc and the crew that will hold the power. Trump only cares about stock market and rich people. Kanye 2020! Kanye will help me as a young black male

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Sir i would like to inform you that there someone sent a message me informing me re: 2,250,000 US dollar to be given to me through the western Union using your name in asking my bank account i would like to sent the message for you

[@oddjobgranny]

Disgusting lies! All the best USA from London UK

[@mizanurmunna9662]

Is he human?

[@Spiritoid]

No

[@williamweck7087]

No

[@williamweck7087]

mizanur munna why are more people not realizing this?

[@Timetryp]

He looks like the creature from the Black Lagoon. His trophy wife must have to shower all the slime off herself after this creature crawls all over her.

[@yeahsowhat643]

Controls the money therefore controls the world. So no, not human.

[@richardphillips5538]

Steve Mnuchin is the Finest Economist & Economic adviser in the White House OF ALL TIME !!!! We Are Most Certainly Blessed As A Nation To Have Him !!!!

[@MrLRowe1]

Why won't they give money to the people....don't we buy all of the stuff....basic economics

[@rayallen953]

That’s not gonna benefit rich people. If we do that, people will buy stuff, ultimately helping the economy

[@stth826]

In that case there will be inflation. You should work and produce stuff in order to buy and consume staff. Thats basic economics.

[@M.-.D]

St TH so if we give it to businesses it will produce business inflation? Like a booming stock market disconnected from fundamentals?

[@erikavega2745]

St TH where? Lol we can’t go back to work now

[@angelm1033]

Robot

[@awpetersen5909]

Might actually be right...

[@justme135]

We need 2000 per month crazy they have there salaries

[@esquire9445]

Oh, the models are broken. I’m obviously confused. I thought workers were struggling. But since the models are broken we can just do mental gymnastics and say everything is peachy.

[@cathyknaffle6507]

If there's a cap on who gets the second stimulus check it should be the same as the last time. Since early on we were told about a second stimulus package. We were given a break on mortgages and car payments. I cannot come up with $4,000 for triple payments that were due July 1st.

[@brandonwhite4338]

8 million jobs created?? That's crap. Not one job has been created this summer.

[@gususalvzz8344]

I like mnuchi. 🇺🇸🇺🇸🇺🇸

[@flipmex1]

To save time, why not just record and playback the pre-written questions along with the pre-written answers and just put up cardboard images of them? At least then the images will be looking at the camera 🤷🏽‍♂️

[@marcietorreance6205]

All the rich people will be fine don't worry, if you poor I would suggest buying more guns. If you want to keep your rights to life, liberity and the pursuit of happiness your going to need them.

[@keisukeyoshida2839]

Lol I tend to agree and I hope I can keep laughing about it and not really see this come to fruition

[@1717Wingman]

BUY MORE guns? If it gets bad enough that I need more guns. I will simply starting picking them up off the ground. No, I'm not a prepper with a truck load of guns either.

[@rayallen953]

Or, just move to another country. America has becoming like a third world country, America is a sinking ship, why do you guys still stay. Are the signs not clear that it’s time to leave? Biden or Trump, it’s time to leave guys. Doesn’t matter if Biden or Trump, they’ll both destroy America some more

[@sportsbooksyndicate4237]

Invest in stonks too!!!

[@giant_avocado7973]

LOL picking them up off the ground-- that is the funniest thing i've read lately. There is probably some truth there!!

[@seansj8812]

Microsoft, Apple and Google are getting bail money to keep the economy strong. Great progress!

[@sammhy3264]

I hope it backfires I hope we go back to shelter in place so their karma can get back at them by giving us money because knowing they're forced to do so is their worse fear

[@danielpierna6308]

God Bless Ous All!!! In Jesus Name. Lets Love and Respect Each Other! Especially Spiritually,Emotionally, Physically, Financially!!! Keep Passing the Stimulus. Till We Ready Completely to Fully Work! Safe!!!

[@Keichan2501]

Who is the reporter?

[@cryptofr193]

W•H•A•T•S•A•P•P ••M•E.°^°+•1•9•1•2•2•3•0•8•0•1•1 F•O•R••M•O•R•E••D•E•T•A•I•L•S•.°^°

[@charniseofrika-bey5986]

If his lips are moving he lying

[@puttentanesame6687]

Trump Toady Stevie at the trough for another day....SNORT SNORT

[@eagleeye7399]

These politicians are in positions to make history and be in the American books. But they playing

[@ironmanjakarta8601]

Planes already have oxygen masks, just wear those most of the time. Much better than masks since it has its own oxygen supply and its plastic which WILL stop virus'.

[@alleycat2697]

So if the airlines need so much help why not adjust the planes for a lower limit In persons, have a medical area because clearly now it’s needed. So your earnings return with the trust of we’re here to help not stir the pot, anymore. Now using the money you can mange HELP THE 1st RESPONDERS, and every medical personnel dealing with this epidemic. You’d be a fool to think planes need to be in the air more than medical persons need cared. Have some deal for them where they can venture to a resort or some type of area where they can decompress. I couldn’t imagine the physiological pain this causes, this is why I’m saying they need help. Remember help those that need a helpful Break.

[@WOLF-qq2cn]

Bailouts for know one

[@gojira8249]

No one* lol

[@reginafreeman3125]

REPUBLICANS MADE THEMSELVES RICH OFF Citizens TAX PAYING MONEY HOW CRIMINAL Injustice They All Need FIRED SUED & JAILED.

[@schwarzkopf1621]

Skull and bones member!!!

[@funfun1918]

Do you like this cnbc girl, who is doing the interview? type 1 for Yes type 2 for No type 3 if you like anacondas type 4 if you are a nut buster type 5 if you like making soup

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1. ✌😷 hellyessss

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1

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Trump 2020🇺🇸👍❤🇺🇸💯

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