The Trump Administration is dismissing suggestions that the U.S. economy is headed for a recession.
Officials are also deflecting the idea that their policies could lead to an economic downturn.
Stocks jumped higher after the opening bell rang this morning on Wall Street.
But many investors fear the Bull Market
may be coming to an end.
“I don’t think we’re having a recession. We’re doing tremendously well,” said President Trump.
The President downplayed the possibility of a downturn, but a new survey shows more than a third of business economists expect a recession by 2021 if not sooner.
“It’s nice to see the media finally cover the Trump economy… you seem to cover it only when you can use the Sesame Street word of the day, “recession,’” said Kellyanne Conway, counselor to the President.
The White House is pushing back at any suggestion its policies have contributed to the financial markets’ uncertainty.
Democrats competing to challenge President Trump for the White House in 2020 say his handling of the economy has only benefited the wealthy.
“He has been using farmers and workers like poker chips at one of his bankrupt casinos,” said Democratic Presidential Candidate Amy Klobuchar.
“There’s a big debate going on right now about whether we’re on the cusp of a recession. I think we probably are. But the more important thing is, even during an expansion, most Americans haven’t been able to get ahead…And the president has made it abundantly clear that he doesn’t care,” said Pete Buttigieg, Democratic presidential candidate
Trade talks with China are slated to continue this week.
President Trump says he could end the tariff war immediately, but that would mean settling for a bad deal.
The White House says if the mid-level trade negotiations with China go well, a delegate of more senior Chinese officials may soon visit the U.S. to try to hash out an agreement.