The Wall Street Journal: Trump Declines to Rule Out Recession
Article by Tim Hanrahan in The Wall Street Journal
President Trump declined to rule out that the U.S. economy would contract this year and enter a recession, saying that his sweeping economic agenda could cause short-term turbulence that he believed would drive future prosperity.
Asked in a “Sunday Morning Futures” interview on Fox News if he was expecting a recession this year, Trump replied: “I hate to predict things like that. There is a period of transition because what we’re doing is very big.”
Trump has moved to overhaul the U.S. economy in an agenda focusing on new tariffs, limiting immigration and cutting regulations, government jobs and taxes. He is also looking for spending cuts in a number of federal programs. While many businesses have cheered his broader agenda, the uncertainty over tariffs on close trading partners Mexico and Canada has rattled markets. He has proposed and pulled back tariffs multiple times in just the past few months.
The president’s moves are testing the resilience of the American economy, which has had .....