US Commerce Secretary Raimondo Denies Possibility of US Economic Recession

BlockBeats News, March 10th, U.S. Secretary of Commerce Howard Lutnick recently dismissed the possibility of an economic recession, stating that Trump's tariff policy will drive $1.3 trillion in new investment, unleashing the growth potential of the United States. "The U.S. will not experience an economic recession," he continued. "Just like those who thought Trump wasn't a winner a year ago. Trump is a winner. He will win for the American people."

However, despite Lutnick's optimism, cryptocurrency traders lack confidence in the market, with Bitcoin and other cryptocurrencies falling. Although the resilience of the labor market has temporarily contained expectations of an economic recession, the Atlanta Fed's GDPNow model predicts a -2.8% GDP growth rate for the first quarter, indicating signs of slowing growth.