Coronavirus economic impact won't last beyond 2020

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the negative economic impact from the coronavirus outbreak is a one-time event that will not last beyond 2020.

At a hearing before the Senate Finance Committee on the Trump administration's budget plan, he said the coronavirus would not affect the administration's long-term U.S. growth forecasts.

"I don't expect the coronavirus will have an impact beyond this year," Mnuchin said.