U.S President Donald Trump has brushed aside mounting concerns over a possible U.S. recession, insisting that the economy will be fine in the long run—even if a downturn happens in the short term.
In an interview with NBC News’ Meet the Press with Kristen Welker, Trump dismissed warnings about the impact of his economic agenda, saying, “Some people on Wall Street say that we’re going to have the greatest economy in history. Why don’t you talk about them? Because some people on Wall Street say this is the greatest thing to ever happen.”
When asked if he would accept a short-term recession to achieve longer-term economic goals, Trump responded, “Look yes, everything’s OK. What we are — I said, this is a transition period. I think we’re going to do fantastically.”
The president’s comments come amid worrying signs from the U.S. economy. According to the Commerce Department, GDP shrank at an annualized rate of -0.3% in the first quarter, a steeper contraction than economists had forecast and the worst performance since 2022. The downturn has been driven by reduced consumer spending and businesses stockpiling goods in anticipation of higher tariffs.
Trump’s trade policies — particularly his aggressive use of tariffs, including against key trading partner China — have raised concerns among economists and global markets. He has previously acknowledged that these measures could cause short-term pain for American consumers, saying earlier this week: “Maybe the children will have two dolls instead of 30 dolls… And maybe the two dolls will cost a couple of bucks more.”
Members of Trump’s administration have also signalled that a recession might be an acceptable sacrifice if it leads to long-term gains. Treasury Secretary Scott Bessent referred to the current period as an economic “detox,” while Commerce Secretary Howard Lutnick said a recession would be “worth it” if it revitalizes American manufacturing.
Still, while economic indicators point to a slowdown, experts say it’s too soon to declare an official recession. By U.S. standards, a recession is defined as a significant, widespread, and prolonged downturn in economic activity.
Written By Queen Diana Story
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