US Risks 'Permanent Damage' from Long Shutdown due to Coronavirus, Says Treasury Secretary

The US economy risks suffering "permanent damage" the longer the lockdown to contain the COVID-19 pandemic drags on, US Treasury Secretary Steven Mnuchin said on Tuesday.

American families and businesses are suffering amid the nationwide shutdowns, Mnuchin told a Senate committee, but reopening the economy will need to be done with caution.

"We're conscious of the health issues and we want to do this in a safe way," he said of efforts to restart the economy.