The fallout from the two fatal 737 Max crashes has cut more than $50 billion from Boeing's market value and has cost airlines more than $1 billion.
's 737 Max crisis could curb U.S. GDP in 2020 by half a point, though he expects the economy should still experience roughly 2.5% in economic growth.
Boeing's 737 Max jet has been grounded since March after two crashes killed 346 people. Regulators say they have no firm timeline to allow the planes to fly again, and U.S. airlines have taken the planes out of their schedules until at least March. "For this year, we've been looking at 2.5 to 3%, as I said, it may be closer to 2.5 because of the adjustment of the Boeing numbers," Mnuchin said regarding 2020 economic growth. "But this would have been 3% otherwise.", though some economists expect slowing growth and a potential recession over the next 12 months.
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