Commerce Secretary Lutnick Rules Out U.S. Recession Despite Economic Concerns
Commerce Secretary Howard Lutnick insists there will be no recession as tariffs are set to reshape trade relations under President Trump's administration.
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The more cautious words of President Trump himself suggest he might have.
Will There Be a Recession? Howard Lutnick and Trump Conflict
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Despite the extension, the tariff threats are having economic impacts in the U.S. and elsewhere, and they’ve been met with strong pushback.
Lutnick: ‘There’s going to be no recession in America’
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Summary
In a recent interview, Commerce Secretary Howard Lutnick stated there will be no recession in the U.S., emphasizing upcoming reciprocal tariffs will stimulate economic growth. While acknowledging challenges such as declining consumer sentiment and inflation, he assured that investments would soar, creating jobs. President Trump echoed a more cautious tone, labelling the current phase as a 'transition,' and refrained from definitive recession predictions. Despite differing views, Lutnick's optimism highlights the administration's focus on protecting and enhancing American industry through trade policy changes set to unfold in the coming months.
Perspectives
Commerce Secretary Howard Lutnick asserted that Americans should not expect a recession, emphasizing a strong belief in President Trump's ability to boost the economy through policies such as reciprocal tariffs.
Lutnick claimed that Trump’s administration will lead to unprecedented economic growth and investment in the U.S., with expectations that grocery prices will decrease as tariffs on foreign goods are implemented.
President Trump acknowledged a 'period of transition' in the economy but refrained from guaranteeing there would be no recession, contrasting his tone with Lutnick’s optimistic forecasts.