White House senior advisor Kevin Hassett told CNBC on Monday he disagrees with Fed Chairman Jerome Powell on the time-frame for an economic recovery.
's thoughts on how long it will take the U.S. economy to recover from the coronavirus-related damage.
"I think definitely you're looking at a very strong third quarter, a very strong fourth quarter and probably a great next year," Hassett said on"So I guess I disagree that it's going to take all the way through the end of 2021 with Jay." Powell, in a "60 Minutes" interview that aired Sunday, said he believes the U.S. economy will ultimately recover, but stressed that there is much uncertainty around how long it will take to happen. He also said a"We'll get through this. It may take a while. It may take a period of time. It could stretch through the end of next year. We really don't know. We hope that it will be shorter than that, but no one really knows," Powell said.
The fallout from the coronavirus — and state stay-at-home orders and business closures put in place to slow the spread — have caused significant damage to the U.S. economy. Hassett said he feels the economy is already starting to recover. "The question is not really, when does the recovery start, because absent a second wave of the disease, it's kind of already begun."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kevin Hart Surprises Doctor With Role in Next Movie for All-In ChallengeKevin Hart found an upside to putting his name to a charitable cause during the coronavirus pandemic: the comedian offered a walk-on role in a future film to a health-care worker in the COVID-19 fight.
Read more »
Kevin Harvick drives to victory at Darlington in NASCAR's return to racingWith no fans in the grandstands, Kevin Harvick claims a win at Darlington Raceway in NASCAR's first race since the coronavirus shutdown.
Read more »
Kevin Harvick Wins As NASCAR Returns Without FansNASCAR is the first major sport to return since the coronavirus shutdown. 'We miss the fans,' driver Kevin Harvick said as he emerged victorious from his car.
Read more »
Kevin Harvick scores 50th career Cup win as NASCAR restarts at DarlingtonKevin Harvick became the 14th driver to earn 50 career Cup Series victories, tying Hall of Famers Ned Jarrett and Junior Johnson on the all-time list.
Read more »
Kevin Harvick Wins in NASCAR's Return Amid Coronavirus Pandemic'We miss the fans,' Harvick said when looking into the empty bleachers.
Read more »
Kevin Harvick wins Darlington NASCAR Cup race as live major sports return in AmericaReal auto racing on a real track returned to American TV on Sunday while the rest of the sports world remains in virtual reality. Here are the results from The Real Heroes 400 in Darlington.
Read more »