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Treasury Secretary Howard Lutnick insists the U.S. economy is on solid footing despite concerns from Wall Street that a recession is in the cards. “Absolutely not,” he said on a Sunday edition of Meet the Press when asked if Americans should prepare for a downturn. “There’s going to be no recession in America,” he continued. “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.” A recession is two consecutive quarters of economic contraction, caused by imbalances from external or internal factors, or combination of both. “President is on it and he is powerful on it, and he is not going to take his foot off the gas.” These tariffs are part of a drug war. Canada and Mexico must shut down the flow of fentanyl across our border and China must stop subsidizing the production. The Trump Administration… pic.twitter.com/nY9x7bx7Wu — Howard Lutnick (@howardlutnick) March 9, 2025 This argument contradicts comments made by the President earlier, who didn’t rule out a recession, calling it part of a transition. Lutnick argued that Trump’s tariff strategy will force other countries to lower their trade barriers, unleashing American growth and driving $1.3 trillion in new investment. “We’re going to unleash America out to the world,” he said in response to warnings from JPMorgan and Goldman Sachs about a tariff-induced recession. “You are going to see over the next two years the greatest set of growth coming from America.” While Lutnick acknowledged that tariffs could make foreign goods more expensive, he framed them as part of a broader effort to cut the deficit and lower borrowing costs. “When you balance the budget… you drive interest rates down 150 basis points. Mortgages come smashing down. The cost…

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Filed under: News - @ March 10, 2025 4:25 am