Former US Treasury Secretary downplays concerns about economic recession, calling stock market pullback a natural phenomenon

According to BlockBeats, on March 14th, former US Treasury Secretary Mnuchin downplayed the risk of a US economic recession and downplayed the current stock market sell-off, believing it was a correction to US President Trump's aggressive trade strategy. Mnuchin said in an interview on Thursday, "We entered the market with the market fully priced, so I think a 5% to 10% adjustment of the S&P or Nasdaq index is actually reasonable." "The market has indeed been driven by a lot of technology spending, especially in the area of artificial intelligence - so this is to some extent a natural adjustment of the market," Mnuchin said, "some of which are concerns about tariffs and their impact. He advised investors not to 'overreact'. I don't think we're going to fall into a recession at all, "he said. As we reduce government spending, the economy may experience a slight slowdown, but I believe investors should not worry about a recession. He also stated that the most concerning issue at present is the massive fiscal deficit in the United States and called on Republicans to extend Trump's 2017 tax cuts to reduce the impact on borrowing. (Golden Ten)