US economic advisor dismisses Wall Street forecast: 100% no recession

White House economic adviser reassures America that there will be 100% no recession this year.

White House National Economic Council Director Kevin Hassett - Photo: REUTERS

Responding on Fox Business on April 14, Director of the White House National Economic Council Kevin Hassett denied concerns about the prospect of a recession this year, rejecting Wall Street forecasts that the US's high tariff policy is causing difficulties for the economy.

Asked if he expected a recession in the US economy in 2025, the White House economic adviser said: "100% no, absolutely not." Mr Hassett cited "strong jobs data" for his statement, after data released earlier this month showed US job growth.

“Things are booming, at least according to the CEOs I've talked to,” said Mr. Hassett.

“When I asked them if the tariff uncertainty was having an impact, they said, ‘No, we’re trying to produce as much domestically as possible,’” Mr. Hassett reassured.

Mr. Hassett made the statement amid concerns about a possible recession in the US caused by tariff uncertainty.

According to a survey by an industry group released on April 14, 62% of US CEOs participating in the survey are predicting a recession, or economic downturn, in the next 6 months.

In the same Fox interview, Mr. Hassett added that "more than 10 countries" had made "very good, very excellent" trade proposals, after US President Donald Trump postponed reciprocal tariffs on many countries for 90 days.

"The president will decide when he is satisfied with the deals and when he wants to announce them, and how many at once. But I can tell you, the progress is incredible," Bloomberg quoted the adviser as saying.

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Source: https://tuoitre.vn/co-van-kinh-te-my-bac-bo-du-bao-cua-pho-wall-100-khong-co-suy-thoai-20250414231736354.htm