Wilbur Ross: No recession in 2021
US Commerce Secretary says this week's trade deals have solidified the economy
U.S Commerce Secretary Wilbur Ross touts President Trump's triumphs as Commander-in-Chief and says any economic worries Americans had before 'phase one' of the U.S.-China trade deal should be resolved.
Touting the historic U.S.-China trade deal and the United States-Mexico-Canada Agreement (USMCA) signings, U.S. Commerce Secretary Wilbur Ross said President Trump has turned back any economic jitters for 2020.
"Whatever fears people might have had of a recession next year, forget it," Ross said. "I think that's almost mechanically impossible to have a recession next year."
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However, Ross said there is one wild card in that equation: the Federal Reserve.
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"If the Federal Reserve goes crazy and raises rates could be all bets are off," Ross said.