United States President Donald Trump said that the US economy is doing "tremendously well" and tried to reassure markets about the risk of the US falling into a recession.
He said that he did not see a recession.
White House economic adviser Larry Kudlow also said there was "no recession in sight".
Last week, financial markets indicated a recession could be on the way.
This "inverted yield curve" often comes before a recession or at least a significant slowdown in economic growth.