U.S. President Donald Trump reassures that the country's economy is in a transition period, despite concerns about a short-term recession.
Trump on Economic State
Trump stated that he is not worried about recession, asserting that "everything is okay" and the economy is simply in a "transition period." He expressed confidence in the country's positive future, saying, "I think we’re going to do fantastically." This claim was also reiterated on social media.
Markets React to Economic Data
Despite Trump's statements, economic data shows a drop in GDP for the first time in three years. However, stock markets, like the S&P 500, demonstrated recovery, exceeding the 50-day moving average. Expert Art Hogan believes that concluding trade deals could have a positive effect on the market.
Predictions and Economists' Concerns
Many economists express skepticism regarding the long-term stability of the economy, signaling the possibility of a slowdown. However, data on consumer spending and private investment brings hope for recovery. Expert Katie Stockton warns of potential obstacles to further growth.
While Trump continues to reassure the public about the economy's well-being, expert opinions vary, highlighting uncertainty amid recent economic indicators.
