MBABANE:United States(US) President Donald Trump has declined to rule out the possibility that the world’s largest economy is headed for a recession amid market concerns over his “America First” economic agenda, Aljazeera reported on Monday.
In an interview with Fox News that aired on Sunday, Trump demurred when asked if he expected a recession this year.
“I hate to predict things like that. There is a period of transition,because what we’re doing is very big.We’re bringing wealth back to America.That’s a big thing,” he said during an interview with Sunday Morning Futures.
Aljazeera further reported that, the benchmark S&P500 index dropped more than three-percent(3) percent from last Monday to Friday, racking up its worst weekly performance since September.
On Thursday, the Atlanta Federal Reserve’s gross domestic product (GDP) tracker downgraded its estimate for the January-March period to a 2.4 percent contraction, down from a 2.3 percent expansion last month.On Friday, Goldman Sachs raised the odds of a recession over the next 12 months from 15 percent to 20 percent.
US President Donald Trump speaks to reporters on board Air Force One on his return to Washington, DC, on March 9, 2025 [Kevin Lamarque/Reuters]