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U.S. companies seen adapting despite Great Depression-level hit: Hassett

Published 04/27/2020, 08:31 AM
Updated 04/27/2020, 08:35 AM
© Reuters. Kevin Hassett, chairman of the Council of Economic Advisers, speaks at the White House in Washington

WASHINGTON (Reuters) - Data suggest U.S. industries appear to be adapting to business amid the nation's coronavirus outbreak, White House economic adviser Kevin Hassett said on Monday, repeating his expectation that while U.S. growth will likely fall to Great Depression-era levels this quarter, it should rebound in the third quarter.

© Reuters. Kevin Hassett, chairman of the Council of Economic Advisers, speaks at the White House in Washington

"At the beginning of this, there was rapid, rapid spread sadly in the places where there are a lot of essential workers. But the variance has really, really declined over time suggesting people have learned ... about safe practices," he told CNBC, without offering any specific data.

Latest comments

No depression at all people got extra money with UIB $600 rach month and mostly they will be hired back with opennings
There is no Depression People are getting free money UIB people got extra $600 each months and mostly will be hired back with opening Thats stupidnees democrats
And I think people are not careful enough, and there will be a second wave, if not a 3rd wave
No second wave
Adapt to survive otherwise d1e, nature law.
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