President Trump describes the U.S. economy as being in a "transition period," downplaying short-term recession risks.
On May 2, 2025, President Donald Trump characterized the U.S. economy as being in a "transition period," expressing confidence in its future performance. In an interview with NBC News, Trump stated, "We're only in a transition stage, just getting started!" He emphasized strong employment data and reiterated his call for the Federal Reserve to lower interest rates.
President Trump describes the U.S. economy as being in a "transition period," downplaying short-term recession risks.
Trump says U.S. economy in "transition," downplays short-term recession risks
On May 2, 2025, President Donald Trump characterized the U.S. economy as being in a "transition period," expressing confidence in its future performance. In an interview with NBC News, Trump stated, "We're only in a transition stage, just getting started!" He emphasized strong employment data and reiterated his call for the Federal Reserve to lower interest rates.
Despite recent data showing a slight slowdown in job growth for April and a quarterly GDP decline—the first in three years—Trump remained optimistic. He downplayed concerns about a short-term recession, stating, "Everything's okay. What we are—this is a transition period. I think we're going to do fantastically."
Economists have expressed mixed views on the administration's economic policies. Some warn that the recent tariff increases could lead to higher inflation and slower growth, while others point to resilient consumer spending and private investment as signs of potential recovery.
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