August 19, 2019 / 12:02 PM / a month ago

U.S. Commerce Secretary Ross downplays fears of recession

FILE PHOTO: U.S. Commerce Secretary Wilbur Ross speaks during a 17th Latin American Leadership Forum in Brasilia, Brazil August 1, 2019. REUTERS/Adriano Machado/File Photo

WASHINGTON (Reuters) - U.S. 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.

Reporting by Makini Brice and Doina Chiacu; Editing by Chizu Nomiyama

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