US President Donald Trump declined on Sunday to rule out the possibility that the United States might enter a recession this year.
“I hate to predict things like that,” he told a Fox News interviewer when asked directly about a possible recession in 2025.
“There is a period of transition, because what we’re doing is very big – we’re bringing wealth back to America,” he said, adding, “It takes a little time.”
But Trump’s commerce secretary, Howard Lutnick, was more definitive when asked Sunday about the possibility of a recession.
“Absolutely not,” he told NBC’s Meet the Press when asked whether Americans should brace for a downturn.
Trump’s on-again, off-again tariff threats against Canada, Mexico, China and others have left the US financial markets in turmoil and consumers unsure what the year might bring.
