Donald Trump said it’s a ‘period of transition’ when asked if a recession is on the horizon
Stocks in the US have suffered a sharp drop after President Donald Trump refused to rule out the country going into a recession.
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Over the weekend, President Trump sat down with Fox News to address a range of pressing issues that have shaped his administration since his return to the White House in January.
Naturally, the ongoing tensions between Russia and Ukraine took center stage, but the conversation also turned to Trump’s bold trade policies. The Republican leader defended his decision to impose hefty 25 percent tariffs on all imports from Canada and Mexico — a move that has sparked retaliatory tariffs from both neighboring nations.
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The impact of President Trump’s tariffs has been significant, with the Federal Reserve Bank of Atlanta’s GDPNow model forecasting a sharp economic downturn. GDP growth for the first quarter of 2025 is now expected to shrink by -2.8 percent, a stark drop from the +3.9 percent projection just a month earlier.
Experts warn that such figures spell potential trouble for the economy, raising concerns about an impending recession. When asked by Fox News if he anticipated a recession this year, Trump responded:
“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. And there are always periods of… it takes a little time. It takes a little time, but I think it should be great for us.”
When pressed on whether his tariffs might fuel inflation, Trump acknowledged the possibility but pointed to a silver lining:
“You may get it. In the meantime, guess what? Interest rates are down.”
His remarks triggered turbulence on Wall Street, with US stocks taking a notable dip as the new week began. The S&P 500 dropped 1.4 percent, while the Nasdaq Composite plunged nearly 1.95 percent by Monday, March 10 — deepening concerns for many Americans.
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The market turmoil intensified last week, with the S&P 500 plunging a significant 3.1 percent as the Trump administration’s tariff policies continued to ripple through the economy.
David Bahnsen, Chief Investment Officer at the Bahnsen Group, shed light on the volatile market conditions during an interview with Fox News.
“The talk of tariffs is, in a lot of ways, worse than the implementation of them,” Bahnsen explained. “The tariff talk, reversal, speculation, and chaos only fosters uncertainty.”
Offering a candid assessment, Bahnsen added:
“I do not believe the administration knows how the tariff situation will play out, but if I were a betting man, I’d say it will persist long enough to hurt economic activity for at least a quarter or two — only to end with trade deals that make everyone wonder why we went through all the fuss.”
His remarks reflect growing concerns that the ongoing turbulence may weigh heavily on the economy before any meaningful resolution is reached.
