U.S. Treasury Secretary Steven Mnuchin said he does not expect the coronavirus pandemic will trigger a U.S. recession, even as others– including President Donald Trump‘s former financial adviser– say we’re most likely currently in one.
” We’re clearly going to have a slowdown,” Mnuchin said on ABC’s “This Week” on Sunday. “Later on in the year, certainly the economic activity will get as we face this virus.”
Mnuchin stated the genuine concern at hand is not today’s financial situation but “what financial tools are we going to use to make sure we survive this.”
Trump’s former National Economic Council director, Gary Cohn, used a bleaker instant evaluation of the economy on Friday because of a significant halt in travel and customer spending due to the infection. He thinks there’s a light at the end of the tunnel.
NEW: Regardless of anticipating a financial downturn, Treasury Secretary Steve Mnuchin informs @jonkarl he does not think the coronavirus pandemic will trigger an economic crisis: “Later on in the year, undoubtedly the financial activity will get as we challenge this virus.” https://t.co/XkLFkSaaAp pic.twitter.com/sBm0lCojMh
— This Week (@ThisWeekABC) March 15, 2020
” More than likely, I ‘d be willing to say, we remain in a rec