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rdf:type	schema:NewsArticle
schema:articleBody	The United States is set for an economic comeback following devastating shutdowns to stop the spread of the coronavirus, Treasury Secretary Steven Mnuchin said Wednesday. "America's economy has begun to rebound, and our recovery is underway," Mnuchin said in testimony to the Senate Small Business and Entrepreneurship Committee. He pointed to last week's Labor Department report showing the economy adding 2.5 million jobs and the unemployment rate declining to 13.3 percent -- nonetheless a sky-high figure reminiscent of the Great Depression 90 years ago. He also cited to statistics from the US Chamber of Commerce showing 79 percent of small businesses have begun reopening, and half of those that remain closed plan to do so soon. Mnuchin credited much of the progress to the $2.2 trillion CARES Act that Congress passed in late March as the lockdowns began, which offered loans and grants to small businesses to get them to keep their staff, as well as direct cash payments to Americans. "This economic positioning is the direct result of the Trump Administration and Congress working together to pass bipartisan legislation to provide necessary liquidity to workers and markets," Mnuchin said. The secretary's testimony comes as the Federal Reserve finishes its first two-day meeting since states began to ease coronavirus shutdown restrictions, where its policy-setting committee is expected to keep the key rate at zero. cs/hs
schema:headline	US economy recovery 'is underway,' Mnuchin says
schema:mentions	Steven Mnuchin United States Department of the Treasury Federal Reserve Presidency of Donald Trump United States Senate United States Congress United States Coronavirus disease 2019 Great Depression in the United States United States House Committee on Education and Labor Market liquidity
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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