Treasury Secretary Steven Mnuchin made the rounds on national media on Sunday, telling anyone who would listen that the Covid-19 pandemic wouldn't shift the economy into recession, even though even perpetual optimists JPMorgan now expect the economy to slide into a technical recession in the coming quarters, while the former chief economist of Alliance Bernstein is bracing for a record crash in US GDP.

"Later in the year, obviously the economic activity will pick up as we confront this virus," Mnuchin told ABC News. "The real issue is not the economic situation today. The real issue is what economic tools are we going to use to make sure we get through this."

He told Fox News Sunday that "a big rebound" in economic growth could be seen "later in the year."

Mnuchin's comments were to reassure the public that after one of the most vicious stock market crashes ever, the Trump economy was still humming along. 

"I can't predict where the market is this week," Mnuchin said. "But what I can tell you is people who bought stock after the crash in '87, people who bought stocks after the financial crisis did really well.