Trump: U.S. Economy Enters "Transition Period," Refuses to Predict Possibility of Recession

BlockBeats News, March 10th, U.S. President Trump refused to rule out the possibility of the U.S. economy shrinking and entering a recession this year, acknowledging that his comprehensive economic agenda could lead to short-term turbulence, but he believes it will drive future prosperity.

During an interview with Fox News' "Sunday Morning Futures" program, Trump was asked if he expected an economic recession this year, to which he replied, "I hate predicting things like this. There is a transition period because what we are doing is so big. We are bringing wealth back to the United States, which is a big thing."

On the other hand, U.S. Commerce Secretary Lutnick ruled out the possibility of an economic contraction in a television address last Sunday. Speaking on NBC News' "Meet the Press" program, he said, "The U.S. will not experience an economic recession. Since the start of the 2020 pandemic, the U.S. economy has never entered a recession." (Jinse)