- 16:33SpaceX leads bid to develop Trump's Golden Dome missile shield
- 16:05Strengthening regional cooperation between Île-de-France and Morocco
- 15:35Escalating tragedy: The Gaza conflict and its devastating toll on Palestinian lives
- 15:04Spain reaffirms support for Morocco’s autonomy initiative on the Sahara
- 14:32Putin thanks Hamas for releasing hostages during Kremlin meeting
- 14:07King Mohammed VI Congratulates Syrian President on Evacuation Day Anniversary
- 13:32Domestic demand boosts economic growth in late 2024
- 11:33Nvidia faces $5.5bn loss due to US AI chip export restrictions to China
- 11:07Facing Cybersecurity Threats Three Questions to an Expert
Follow us on Facebook
Trump avoids predicting US recession amid market volatility
United States President Donald Trump has refrained from predicting whether the country is headed for a recession as concerns mount over his economic policies.
In an interview with Fox News on Sunday, Trump sidestepped questions about a potential downturn, stating, “I hate to predict things like that. There is a period of transition because what we’re doing is very significant. We’re bringing wealth back to America.” He expressed optimism, saying that while the process takes time, it would ultimately benefit the country.
His remarks come as investors react to shifting tariff policies and indications of an economic slowdown. Last week, Trump imposed 25 percent tariffs on imports from Mexico and Canada, while also increasing duties on Chinese goods to 20 percent. However, within 48 hours, he postponed some of the tariffs on Mexican and Canadian imports until April 2.
These policy shifts contributed to a 3 percent decline in the S&P 500 index last week, marking its worst performance since September. On Thursday, the Atlanta Federal Reserve adjusted its GDP forecast for the first quarter, predicting a 2.4 percent contraction instead of the previous 2.3 percent expansion estimate. Additionally, Goldman Sachs raised the probability of a recession within the next year from 15 percent to 20 percent.
Despite these concerns, some indicators suggest resilience in the economy. The US Bureau of Labor Statistics reported the addition of 151,000 jobs in January—slightly below expectations but consistent with the 2024 average.
Meanwhile, US Commerce Secretary Howard Lutnick dismissed recession fears in an NBC interview, asserting, “Donald Trump is a winner. He’s going to win for the American people. There’s going to be no recession in America.” He insisted there was “no chance” of an economic downturn.
Comments (0)