March 18, 2020 / 12:44 AM / 20 days ago

Mnuchin warns senators of 20% unemployment without coronavirus stimulus

WASHINGTON, March 17 (Reuters) - U.S. Treasury Secretary Steven Mnuchin warned Republican senators on Tuesday that failure to act on a proposed coronavirus rescue package could lead to U.S. unemployment as high as 20% and lasting economic damage, a person familiar with the closed-door meeting said.

Mnuchin met with senators to persuade them to pass a $1 trillion stimulus package that would send cash to Americans within two weeks and backstop airlines and other companies. (Reporting by David Lawder; editing by Christian Schmollinger)

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