US Treasury Secretary Paul O'Neill, currently touring the Middle East, confirmed Tuesday that the US economy was doing ok and did not technically go into recession in 2001.
Although the National Bureau of Economic Research claimed that the States entered recession in March 2001 after 10 years of steady expansion, O'Neill clearly disagrees.
'It seems quite clear now that our economy never suffered a recession,' O'Neill declared. He also confirmed that 'economic fundamentals are moving back into place' and predicted 'substantial growth in the US economy' in 2003.
Secretary O'Neill Says No Recession
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