The treasury secretary of the United States, Steve Mnuchin has said that they do not expected that the coronavirus pandemic is going to be triggering a recession of United States even with the others including the former economic adviser of President Donald trump saying that we are in one already.
Mnuchin said last week that they were clearly going to be having a slowdown on this Sunday. Later in this year, the economic activity is going to be picking up as they confront this virus. Mnuchin has been saying that the issue at hand really is not the economic situation which is happening however the economic tools had been going to be using to make sure that they are able to get through this said Mnuchin.
The former adviser of Trump has offered the bleaker assessment immediately of the economy on this Friday as a major halt in travel as well as the consumer spending has been announced because of this virus. There is a belief that there is going to be some optimism later though. He said that he is going to be willing to be saying as there is recession as of now. There are going to be having the negative growth as of now and the market has been pricing in it certainly.
There is good news though that they are beginning from a very good start only a few weeks ago.
Former Fed vice chairman has said that they would not be surprised even a bit of surprise and it shows that the recession has begun in the month. Data will take some months and this is when the analysis is going to be done.