On March 17, following President Trump's refusal to guarantee that the US economy will not experience negative growth over the weekend, US Treasury Secretary Mnuchin also stated in an interview on Sunday (16th) that he cannot guarantee that the US economy will not fall into recession. However, Mnuchin ruled out the possibility of a financial crisis in an NBC interview. When asked if he could guarantee that there would be no economic recession during Trump's presidency, Mnuchin replied: "I cannot guarantee it. We are implementing policies that can be sustained in the long run, and the country needs to gradually move away from large-scale government spending."
When asked whether reducing government spending would lead to an economic recession, Mnuchin said: "There is no reason it has to be that way." He also refuted people's concerns about the recent decline in the US stock market, saying that the market correction is healthy, and that the market situation will be good if the government implements good tax policies, relaxes regulations, and ensures energy security. (Gold 10)
