The administration is focused on getting money out quickly.
Treasury Secretary Steve Mnuchin appeared on several television programs Sunday morning. He said the Administration expects to have the small business loan program up and running in the coming week. Workers, he said, should expect their direct deposits or checks from the stimulus fund in about three weeks.
He said the Administration is focused on getting “this money into the economy quickly. That’s a combination of small business loans that will be available this week.
“Any FDIC bank, any credit union, any fintech lender will be authorized to make these loans to a small business subject to certain approvals,” Secretary Mnuchin said.
When asked about the stock market and unemployment, the secretary said, “I don’t know what the numbers are going to be this quarter. What I think is that we’re going to kill this virus, reopen the economy, and in the third quarter the economy will bounce back.”
As the Lord Leads, Pray with Us…
- For Secretary Mnuchin and many in the Treasury Department who are working to “get money into the economy quickly.”
- Those small businesses will be able to successfully use the process of securing funds for payrolls, rents, and utilities.
- For stability and improvement in the economy not just for the U.S., but globally.
Sources: Bloomberg News, Fox News
