Mnuchin predicts US economic 'bounce back' as pandemic spending rises

US Treasury Secretary Steven Mnuchin insisted Sunday the US economy will come roaring back even amid warnings from another White House adviser of longer-term impacts of the coronavirus pandemic's unprecedented shock to the economy. Mnuchin's upbeat assessment came amid skyrocketing unemployment figures and forecasts predicting a deep contraction in economic activity this year. In an interview with "Fox News Sunday," Mnuchin defended the soaring deficit spending as key to reviving the economy, even amid rising signs of Republican pushback in Congress.

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