Commerce Secretary dismisses recession fears as ridiculous

In a recent broadcast on Fox Business, Commerce Secretary Howard Lutnick strongly rejected economic forecasts suggesting the United States economy is on the brink of contraction and potentially a recession. In the appearance on March 15, 2025, he labeled such predictions, specifically from the Federal Reserve Bank of Atlanta, as 'ridiculous,' despite the growing anxiety among investors about the economy's health. This response came while discussing the stock market's downturn and concerns linked to President Donald Trump's trade policies. Lutnick emphasized that he didn't see evidence of 'deep pain' affecting Americans at present, arguing that the state of the economy isn't as dire as predicted by some experts. He pointed to upcoming investments from technology and manufacturing sectors as indicators of recovery in the near future. Bartiromo, a supportive host of the show, urged Lutnick to clarify his stance amidst rising concerns, indicating that despite Lutnick's reassurances, sentiment around economic forecasts was shifting negatively among the populace. She cited the Atlanta Fed's recent projection of a contraction of 2.4 percent, prompting Lutnick's vigorous defense of the current state of the economy as falsely exaggerated. Drifting further into the conversation, Lutnick claimed that the President's economic policies would lead to significant growth by the end of the year, insinuating that prior administrations had left behind a mess that was now being resolved. Through these remarks, it appears that the administration is attempting to shift blame for economic concerns towards previous leadership, while also signaling optimism about future economic growth. Lutnick's statements reflect a broader narrative being communicated by President Trump and his allies, aiming to allay fears and maintain public confidence in their economic management despite contrary data and public sentiment.