Treasury Official Predicts Second-Quarter Rebound

The U.S. economy could start to see a recovery as soon as April, despite current conditions indicating a greater risk for contraction, a senior U.S. Treasury official told CNBC Europe Tuesday.

“We know that growth is slowing, the risks are to the downside,” Deputy Treasury Secretary Robert Kimmitt told “Squawk Box Europe.” “That is precisely why on an unprecedented basis a bipartisan stimulus package was put together last month.”

Of the $150 billion package, two thirds will go to consumer spending and one third toward business investment, Kimmitt said. Continue reading