Commerce Secretary Howard Lutnick tried to alleviate consumer fears over the weekend about the economic forecast for the U.S., saying that he does not see a recession on the horizon after President Donald Trump declined to rule it out.

Lutnick made the remarks during a Sunday interview on NBC News’ “Meet The Press” with Kristen Welker when asked about major banks predicting a likely U.S. recession within the next 12 months.

“Should Americans brace for a recession?” she asked.

“Absolutely not,” Lutnick responded. “Anybody who bets against Donald Trump — it’s like the same people who thought Donald Trump wasn’t a winner a year ago — Donald Trump is a winner. He’s going to win for the American people. That’s just the way it’s going to be.”

“There’s going to be no recession in America,” he continued. “What there’s going to be is global tariffs are going to come down because President Trump has said, ‘You want to charge us 100%? We’re going to charge you 100%.’ You know what they say? They say, ‘No, no, no, no, no, don’t charge us 100%. We’ll bring ours down.’”

“We’ll unleash America out to the world,” he added. “Grow our economy in a way we’ve never grown before. You are going to see over the next two years the greatest set of growth coming from America as Americans. You saw it, 1.3 trillion of new investment coming into America that – think of all those jobs, and remember, each trillion of investment in America is 1% of growth GDP. So, Donald Trump is bringing growth to America. I would never bet on recession. No chance.”

In a recent interview with Fox News, Trump was asked about a possible recession.

“I hate to predict things like that,” Trump responded. “There is a period of transition, because what we’re going is very big. We’re bringing wealth back to America. That’s a big thing. And there are always periods of, it takes a little time. It takes a little time, but I think it should be great for us.”

WATCH:

​[#item_full_content]  

​[[{“value”:”

Commerce Secretary Howard Lutnick tried to alleviate consumer fears over the weekend about the economic forecast for the U.S., saying that he does not see a recession on the horizon after President Donald Trump declined to rule it out.

Lutnick made the remarks during a Sunday interview on NBC News’ “Meet The Press” with Kristen Welker when asked about major banks predicting a likely U.S. recession within the next 12 months.

“Should Americans brace for a recession?” she asked.

“Absolutely not,” Lutnick responded. “Anybody who bets against Donald Trump — it’s like the same people who thought Donald Trump wasn’t a winner a year ago — Donald Trump is a winner. He’s going to win for the American people. That’s just the way it’s going to be.”

“There’s going to be no recession in America,” he continued. “What there’s going to be is global tariffs are going to come down because President Trump has said, ‘You want to charge us 100%? We’re going to charge you 100%.’ You know what they say? They say, ‘No, no, no, no, no, don’t charge us 100%. We’ll bring ours down.’”

“We’ll unleash America out to the world,” he added. “Grow our economy in a way we’ve never grown before. You are going to see over the next two years the greatest set of growth coming from America as Americans. You saw it, 1.3 trillion of new investment coming into America that – think of all those jobs, and remember, each trillion of investment in America is 1% of growth GDP. So, Donald Trump is bringing growth to America. I would never bet on recession. No chance.”

In a recent interview with Fox News, Trump was asked about a possible recession.

“I hate to predict things like that,” Trump responded. “There is a period of transition, because what we’re going is very big. We’re bringing wealth back to America. That’s a big thing. And there are always periods of, it takes a little time. It takes a little time, but I think it should be great for us.”

WATCH:

“}]] 

 

Sign up to receive our newsletter

We don’t spam! Read our privacy policy for more info.