White House pushes back against recession talk as household worries grow

A key economic adviser to President Donald Trump on Monday pushed back on talk of recession stemming from uncertainty around his administration's tariff policies, even as a survey of American households showed consumers growing more pessimistic about their prospects, and U.S. stocks extended their slide.

In an interview with CNBC, Kevin Hassett, who heads the National Economic Council, said there were many reasons to be bullish about the U.S. economy, despite some predictions of a contraction in gross domestic product in the first quarter and concerns about inflation.