Department of Treasury hopes U.S. economy bounce back in July

Treasury Secretary Steven Mnuchin predicted the U.S. economy hit hard by the coronavirus pandemic would rebound this summer and early in the fall.

"I think as we begin to reopen the economy in May and June you’re going to see the economy really bounce back in July, August, September," Mnuchin said on 'Fox News Sunday'.

“We are putting an unprecedented amount of fiscal relief into the economy," he added. "You’re seeing trillions of dollars that’s making its way into the economy, and I think this is going to have a significant impact."

Mnuchin said that "we’ve never seen anything like this," in reference to the pandemic. "We’ve closed the economy, and we’re going to open the economy. ... This is not the financial crisis [of 2008]," The Hill cited him as saying.