Trump: The U.S. economy is entering a "transition period," refusing to rule out the possibility of a recession

ChainCatcher News, President Trump has refused to rule out the possibility of the U.S. economy shrinking and entering a recession this year. He stated that his comprehensive economic agenda may cause short-term turbulence, but he believes it will drive future prosperity.

In an interview on Fox News' Sunday Morning Futures, Trump was asked if he expected a recession this year, to which he replied, "I hate to predict such things. There is a transition period because what we are doing is very big. We are bringing wealth back to America, and that is a big deal."

U.S. Treasury Secretary Mnuchin also indicated last week that the U.S. economy might experience a tough period during this economic transformation. However, Commerce Secretary Ross ruled out the possibility of an economic downturn in a television address last Sunday. He stated on NBC's Meet the Press, "There will be no recession in the U.S. The U.S. economy has never been in recession since the pandemic began in 2020."