WHEN: FRIDAY, SEPTEMBER 7 AT 2:30 PM ET
WHERE: CNBC'S "STREET SIGNS"

The following is the unofficial transcript of a CNBC interview with former Massachusetts Governor and Presidential Hopeful Mitt Romney on CNBC's "Street Signs" today at 2:30 PM ET. All references must be sourced to CNBC.

In the interview with CNBC's Erin Burnett, Romney discusses his economic plan, tax policies and global trade, among other topics.

ERIN: AND NOW MITT ROMNEY IS OUT TODAY WITH HIS TAX PLAN FOR THE MIDDLE CLASS, HE JOINS US NOW FROM THE CAMPAIGN TRAIL. IN NEW HAMPSHIRE. AND OUR CHIEF WASHINGTON CORRESPONDENT JOHN HARWOOD WILL TRY AND GET IN ON THIS AS WELL AND WE HAVE BOB LANE, CEO OF JOHN DEERE, GOVERNOR -- GOVERNOR ROMNEY THANK YOU SO MUCH FOR TAKING TIME OUT OF WHAT I KNOW IS A BUSY DAY.

MITT ROMNEY: I'M IN LITTLETON NEW HAMPSHIRE AND A BEAUTIFUL DAY.

ERIN: AFTER BEING OUTSIDE ON A TRACTOR, I HAVE TO TELL YOU IT IS A BIT HOT, BUT LET ME BEGIN BY ASKING YOU, OBVIOUSLY THE JOBS NUMBER SHOCKED EVERYONE AND WALL STREET WHICH AS YOU KNOW DOESN'T USUALLY GET SURPRISED BY THINGS LIKE THIS. ARE YOU CONCERNED RIGHT NOW, WHEN YOU TALK TO YOUR ECONOMIC TEAM, THAT WE REALLY COULD BE FACING A RECESSION IN THIS COUNTRY?

ROMNEY: YOU KNOW, I DON'T THINK WE NEED TO SLIP INTO A RECESSION. I THINK THE SUBPRIME MORTGAGE MARKET HAS BEEN TROUBLED. I THINK THE PRESIDENT HAS TAKEN ACTION WHICH WILL CERTAINLY HELP THE NUMBER OF HOMEOWNERS AND I THINK THE FED IS TAKING THE NECESSARY ACTION TO PROVIDE THE MONEY SUPPLY. THE -- TO ALLOW THE CREDIT MARKETS TO STAY OPEN BUT, OBVIOUSLY, IF THE CREDIT CRUNCH EXPANDS BEYOND THE SUBPRIME MORTGAGE MARKET INTO OTHER ASPECT OF OUR ECONOMY, IT COULD SLOW THINGS DOWN AND I JUST THINK AGGRESSIVE ACTION WILL KEEP THAT FROM HAPPENING, IF IT IS TAKEN ON A TIMELY BASIS.

ERIN: IS THERE ANYTHING AT THIS POINT THAT YOU THINK THAT THE BUSH ADMINISTRATION OR, YOU KNOW, WHAT WOULD BE THE ROMNEY ADMINISTRATION SHOULD DO TO DEAL WITH THE DETERIORATING JOBS SITUATION?

ROMNEY: WELL, I THINK YOU INDICATE EXACTLY WHAT THE ECONOMIC STRATEGY IS FOR THE COUNTRY. YOU POINT IN TIME OUT THE STABILIZING FEATURES IN OUR ECONOMY. AND YOU EXPECT THE FED TO TAKE THE KIND OF ACTION -- THEY HAVE BEGUN AND HOPEFULLY WILL CONTINUE TO TAKE, WHICH IS PROVIDING THE LIQUIDITY AND THE CREDIT MARKET -- IN THE CREDIT MARKET THAT ENABLES PEOPLE TO CONTINUE TO PURCHASE PRODUCTS AND THERE IS REALLY NO REASON FOR THE NATION TO SLIP INTO RECESSION AT THIS POINT. THERE ARE ALWAYS POSSIBILITIES THAT PEOPLE GET NERVOUS AND LEMMING-LIKE, TAKE ACTION THAT IS NOT WISE. BUT I DON'T THINK THAT IS GOING TO HAM. I THINK YOU WILL SEE THE -- HAPPEN, I THINK YOU WILL SEE YOU THIS CORRECTIVE ACTION TAKEN.

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