Treasury Secretary Mnuchin speaking in Washington in front of House Appropriations committee
- Iran sanctions do not prohibit humanitarian contributions to ease coronavirus pressure and Iran
- It's clear that the travel industry is going to be the hardest hit by coronavirus
- Situation is similar to after 9/11 hijacking attacks
- Airlines, hotels, cruise lines are the sectors impacted. Small and medium enterprises at risk
- Administration is actively exploring how federal government could reimburse workers for lost pay possibly through their companies
- Federal government should make sure people get paid for the weeks they are away from work under quarantine
- Payroll tax cut is a stimulus mechanism that would put money back into the economy
The payroll tax cut comment is the first that I have seen today. That was the major stimulus talked about yesterday. His comment is more a statement of fact then policy but will be monitored by markets.
Health and Human Services official Kadlec says:
- US could have spot shortages of personal protective equipment due to coronavirus outbreak
