ABC News reports:
Despite forecasting an economic slowdown, the president’s top economic adviser said on ABC’s “This Week” that he did not think the novel coronavirus pandemic would cause a recession.
Responding to ABC News Chief White House Correspondent Jonathan Karl on whether there will be a recession, Treasury Secretary Steven Mnuchin said, “I don’t think so. The real issue is not the economic situation today. … This is a unique situation. We are going to have a slowdown. Later in the year economic activity will pick up as we confront this virus.”
On Sunday, just days after negotiating a bipartisan coronavirus relief bill with House Democrats, he added, “The stock market is gonna go up, it’s gonna go down, we can’t focus on every day.”
NEW: Despite forecasting an economic slowdown, Treasury Secretary Steve Mnuchin tells @jonkarl he does not think the coronavirus pandemic will cause a recession: “Later in the year, obviously the economic activity will pick up as we confront this virus.” https://t.co/XkLFkSaaAp pic.twitter.com/sBm0lCojMh
— This Week (@ThisWeekABC) March 15, 2020