Former Treasury Secretary Jack Lew said on 'Closing Bell' that a sharp rebound in the economy is unlikely even if government leaders manage the health crisis well.
"I think the best we're going to be able to do is getting part way back to where we were. I don't see people filling sports arenas or airplanes or crowding into restaurants anytime soon," Jack Lew said on CNBC's "Closing Bell."
The former Obama administration official said that government leaders were too slow initially in reacting to the virus. "I think the best we're going to be able to do is getting part way back to where we were. I don't see people filling sports arenas or airplanes or crowding into restaurants anytime soon," Lew said on CNBC's "." "So we know that there are going to be parts of the economy that are slow to recover even if we come out of this well ... I think the best we're going to do is a slow recovery.
The former Obama administration official said that government leaders were too slow initially in reacting to the virus, but that the speed that Congress and current Treasury Sec. Steve Mnuchin eventually showed on crafting economic relief packages was "admirable."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Victoria’s Secret Going It AloneParent company L Brands calls it quits with private equity firm Sycamore Partners and plots its next move.
Read more »
Treasury Secretary Mnuchin gets into Twitter tiff with Axl RoseTreasury Secretary Steven Mnuchin challenged hard rock musician and Guns N' Roses member Axl Rose on Twitter Wednesday evening.
Read more »
Axl Rose Sparks Twitter Feud With Treasury Secretary Steven Mnuchin“Unlike this admin I’m not responsible for 70k+ deaths n’ unlike u I don’t hold a fed gov position of responsibility 2 the American people,” singer tells Treasury Secretary
Read more »
Axl Rose called Steven Mnuchin an expletive on Twitter, sparking 2020's weirdest feudGuns N’ Roses frontman Axl Rose criticized Steven Mnuchin and Trump's coronavirus response, which irked the Treasury Secretary and started a Twitter spat.
Read more »
Betsy DeVos Makes Moves To Quietly Prop Up Private SchoolsCritics say the education secretary is using coronavirus stimulus money to push her school privatization agenda.
Read more »
Losing Your Virginity: Real Talk About the First Time You Have SexWhat people wish they'd known before having sex for the first time.
Read more »