Stocks Plunging, Investors Weigh Comments from the Fed, Coronavirus Second Wave Fears, Treasury Secretary Mnuchin: We Cant Shutdown the Economy Again
b'Carl Quintanilla, Jim Cramer and David Faber discuss the swift move lower for stocks. Major averages tumbling on the heels of comments from the Chairman of the Federal Reserve yesterday and reopening fears.\\xa0Fed Chairman Powell saying, \\u201cWe\\u2019re not thinking about raising rates. We\\u2019re not even thinking about thinking about raising rates. What we\\u2019re thinking about is providing support for the economy. We think this is going to take some time.\\u201d\\xa0The Fed sees rates staying near zero through 2022 and GDP tumbling 6.5% in 2020.\\xa0Investors also becoming concerned about a second wave of coronavirus cases, continuing to rise in certain states, as the U.S. pushes deeper into reopening the economy.\\xa0Treasury Secretary Steven Mnuchin joins the \\u201cSquawk on the Street\\u201d gang to discuss small business lending, the state of the economy, and shutting down again in the face of a second wave.\\xa0Hear why he says, \\u201cwe can not shutdown the economy again.\\u201d\\xa0Plus, the CEO of GrubHub on the big deal news of the day, as his company is acquired by Just Eat Takeaway for $7.3 billion.'