United States President Donald Trump has declined to rule out the possibility that the world’s largest economy is headed for a recession amid market concerns over his “America First” economic agenda.
In an interview with Fox News that aired on Sunday, Trump demurred when asked if he expected a recession this year.
“I hate to predict things like that. There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing,” Trump said during an interview with Sunday Morning Futures.
“It takes a little time, but I think it should be great for us.”
Trump’s comments come amid market jitters over his back-and-forth announcements on tariffs and signs of a slowdown in the US economy.
Trump last week slapped 25 percent tariffs on imports from Mexico and Canada and doubled the rate of duties on Chinese goods to 20 percent.
But just 48 hours later, he announced he would postpone some of the tariffs on Mexican and Canadian goods until April 2.
The benchmark S&P500 index dropped more than 3 percent from last Monday to Friday, racking up its worst weekly performance since September.
On Thursday, the Atlanta Federal Reserve’s gross domestic product (GDP) tracker downgraded its estimate for the January-March period to a 2.4 percent contraction, down from a 2.3 percent expansion last month.
United Arab Emirates Dirham Exchange Rate
