Commerce Secretary Wilbur Ross on Monday added to a chorus of presidential officials downplaying concerns over a looming recession after the U.S. Treasury yield curve temporarily inverted last week for the first time in 12 years.
"Eventually there'll be a recession but this inversion is not as reliable, in my view, as people think," Ross said in an interview with Fox Business Network.
Ross also said that the Trump administration was not happy with how Federal Reserve monetary policy was helping the U.S. dollar stay strong.
Asked on Fox Business Network whether a strong dollar would adversely affect the economy, Ross said, “We’re very upset about the portion of the strength of the dollar that’s due to monetary policy by the Fed.”
The Trump administration has been pushing the Fed to lower interest rates.