White House: US recession risk worries

Cecilia Rose, an adviser to the US President, said the White House was “concerned” about the risks of an economic slowdown in the country, while stressing that the fundamentals of the economy are still strong enough to withstand these risks.

In an interview with CNBC, Chancellor Cecilia Rose said: “This is clearly a concern, but the backbone of our economy remains strong.”

Rose attributed the decline in GDP in the first quarter of this year to weak exports.

US Treasury Secretary Janet Yellen expected the economy to slow down in the midst of its transition to “slow and steady growth” and said a recession in the United States was not “inevitable”.

At the same time, the head of the Richmond regional office of the central bank, Thomas Barkin, said that “economic data still look relatively good.”

Source: AFP

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