‘No one thinks the right outcome is zero’Treasury Secretary Steven Mnuchin says “there is more work to be done” to help the U.S. economy recover from its pandemic-induced recession. Mr. Mnuchin and House Democrats painted different pictures of the economy at a congressional hearing yesterday:• The Treasury secretary emphasized that the economy was “doing great” relative to the worst-case pandemic situations. “There’s one Wall Street and there’s thousands of Main Streets not doing well,” he said. A number of economic reports are due this week that could shed some light on the course of the recovery. Tomorrow, weekly jobless claims are expected to show a large decline, due mostly to methodological changes.

Source: New York Times September 02, 2020 10:52 UTC