• SENSEX
    NIFTY 50
Economy

White House official warns of negative shocks before rebound later in 2020

Updated : April 29, 2020 09:16 AM IST

"I'm just saying that we're going to have the biggest shock since the Great Depression," Kevin Hassett, senior economic adviser to President Donald Trump, told reporters at the White House. "It's a very grave shock and something we need to take seriously."
Earlier, US Treasury Secretary Steven Mnuchin predicted that the economy could rebound by late summer as states allow the reopening of businesses that have been closed to slow the spread of the coronavirus.
Trump, at a White House event on Tuesday, also shifted the focus away from the near term, saying that the fourth quarter "is going to be really strong and I think next year is going to be a tremendous year."
White House official warns of negative shocks before rebound later in 2020

You May Also Like

Live TV

recommended for you

Advertisement