President Donald Trump stopped short of ruling out a full-blown recession for the U.S. economy this year, telling Maria Bartiromo in an exclusive Sunday Morning Futures interview that the country is undergoing a "period of transition" as his policies take effect.
Trump has said the US economy faces “a period of transition"
3/10/2025
"I hate to predict things like that," Trump said when asked about the possibility of a recession. "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… it takes a little time, but I think it should be great for us."
His comments come amid rising concerns from business leaders about the economic impact of tariffs imposed on China, Canada, and Mexico, as well as fears of a broader slowdown.
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Bartiromo noted that the Atlanta Federal Reserve has projected a -2.8% contraction for the first quarter.
Meanwhile, Goldman Sachs has raised the probability of a recession within the next 12 months to 20%, while JP Morgan puts the chances at 35%.
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Commerce Secretary Howard Lutnick struck a more confident tone on Sunday when asked about the risk of a recession, telling NBC’s Meet the Press that he would “never bet on” one.
"There’s going to be no recession in America… no chance," Lutnick said.
The Pentagon has officially accepted a $400 million luxury airliner from Qatar that Trump said will serve as Air Force One
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