If a recession happens (current estimates are a 35% to 40% chance), it won't be because Trump inherited a bad economy (in fact, while far from great, it was the strongest in the world when he inherited it). EVEN HE has admitted that the massive, ridiculously rapid disruptions his administration is causing will have caused it. So trying to blame the old and frail Biden won't work.
So let's just hope that the pain that regular Americans are feeling, and will feel, will be worth it. Either way, this will be on Trump.
Trump Won’t Deny There Could Be A Recession—Warns Of ‘Period Of Transition’ In Economy
“Sunday Morning Futures” host Maria Bartiromo asked Trump whether he expected there would be a recession this year, to which Trump responded, “I hate to predict things like that.”
“There is a period of transition, because what we’re doing is very big,” Trump said about implementing his economic agenda like tariffs, adding, “It takes a little time, but I think [his agenda] should be great for us.”
The president also downplayed the stock market dropping over the past week in response to his tariffs, telling Bartiromo the market hadn’t gone down by “much” and saying he “can’t really watch the stock market” as he implements his economic policies, adding, “You can’t go by that, you have to do what’s right.”
Economists upped the odds of a recession this week and cited Trump’s economic policies as the “key risk” that could cause one, amid troubling indicators like lower consumer sentiment, mounting layoffs and the stock market’s decline, with the Federal Reserve Bank of Atlanta projecting March 6 that the U.S.’ economic output will contract by an annualized rate of -2.4% in 2025’s first quarter.
The stock market also suffered its worst week in six months amid uncertainty over Trump’s tariffs, with Nvidia and Tesla having the biggest declines.
