Recession in US this year itself? Trump declines to rule out the possibility

Trump won't rule out the likelihood that the US might enter recession under his watch, as early as this year itself, reports by AFP and other agencies said.

In an interview that aired on March 9, Trump said he won't dismiss the possibility of the United States witnessing a recession this year. When asked directly about a potential downturn into 2025, he responded, «I hate to predict things like that,» during a conversation with a Fox News host. He emphasised the significant changes underway, stating, «There is a period of transition, because what we're doing is very big — we're bringing wealth back to America,» and noted that «It takes a little time.»

In contrast, Trump's commerce secretary, Howard Lutnick, provided a more definitive stance, stating unequivocally on NBC's «Meet the Press,» «Absolutely not,» when queried if Americans should prepare for an economic downturn.

The uncertainty surrounding Trump's fluctuating tariff threats aimed at countries such as Canada, Mexico, and China has contributed to volatility in U.S. financial markets, leaving consumers uncertain about what the year holds. Recently, stock markets experienced their worst week since the November elections, with consumer confidence indicators declining as shoppers, already feeling the pinch from prolonged inflation, brace for potential price increases linked to tariffs.

Additionally, extensive layoffs initiated by Trump's billionaire advisor, Elon Musk, have heightened concerns.

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