Former Ford CEO: Auto industry in ‘much stronger position’ than 2008 recession
Fmr. Ford CEO Mark Fields discusses the disruption in the auto industry during the coronavirus pandemic.
The U.S. is "probably" in a recession as the auto, airline and other industries take hits due to the coronavirus pandemic, former Ford CEO Mark Fields told "Mornings with Maria" on Thursday.
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"We probably are in one right now. … I think it will tell us that in the last week or two we've started to contract from a GDP standpoint," Fields said.
|F||FORD MOTOR COMPANY||4.27||-0.23||-5.11%|
|FCA||FIRST TR EXCH TRADED ALPHADEX FD II CHINA ALPHADEX FD||19.41||-0.02||-0.11%|
|GM||GENERAL MOTORS COMPANY||16.99||+0.19||+1.13%|
He said some recession factors, like the Federal Reserve aggressively tightening monetary policy and market imbalances, are missing. But the coronavirus pandemic counts as an "exogenous shock" that could point to a major downturn.
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