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Treasury secretary says economy will rebound in months: 'I definitely don't think it will be years'

Treasury secretary says economy will rebound in months: 'I definitely don't think it will be years'
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Treasury Secretary Steven MnuchinSteven Terner MnuchinBiden's Treasury pick will have lengthy to-do list on taxes On The Money: Initial jobless claims rise for 2nd week | Dow dips below 30K | Mnuchin draws fire for COVID-19 relief move | Manhattan DA appeals dismissal of Manafort charges Mnuchin to put 5B in COVID-19 relief funds beyond successor's reach MORE said Sunday he thinks the economy will rebound from the coronavirus pandemic within months. 

Asked on CNN’s “State of the Union” how long it will take before the economy is back to the “strong position” it was in before the pandemic, Mnuchin said, “I think it will be months. I definitely don't think it will be years.” 

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Mnuchin said more testing, as well as potential treatments for COVID-19 will help the economy bounce back.

“We are going to have terrific breakthroughs, I know both not just on the testing but on the medical front we begin to have virals, I think there's things being developed for vaccines which will take a little bit longer,” he added. 

Mnuchin said people will also “react positively" if they know that if they “get this disease they will be able to get treatments as well.” 

Mnuchin said he expects there will be a big rebound when people get more comfortable with reopening the economy. 

Nearly every state across the country has put in place stay-at-home orders in response to the pandemic, shuttering businesses across the country.