President Donald Trump has sparked concerns about a possible recession, despite vowing to make the economy better from Day One. Seven weeks into his term, Trump’s policies are causing market turmoil and fears of a downturn are growing.
In a campaign rally last August, Trump promised to end inflation and make America affordable again if elected. However, after taking office, he has shifted his stance on tariffs and their impact on the economy. Trump imposed steep levies on key U.S. trading partners like Canada, China, and Mexico, which has caused a stock market meltdown.
The Atlanta Federal Reserve projected negative GDP growth for the first quarter of 2025, but Trump downplayed concerns about a recession, saying he doesn’t see it happening. He defended his tariff policies, claiming they will bring wealth back to America.
Trump’s comments have been met with skepticism from economists and investors, who point out that the market turmoil is a sign of economic instability. The White House attempted to cast the market volatility as a “snapshot of a moment in time” before Trump’s policies take hold.
Despite concerns about the economy, Trump remains optimistic about his ability to create jobs and stimulate growth. However, the reality is that his policies are causing uncertainty and disrupting the market. As one economist noted, “it takes a little time” for economic policies to take effect, but the current situation suggests that it may be longer than expected.
The White House is pledging to move forward with additional tariffs on steel and aluminum products starting April 2, which could further exacerbate market volatility. With the economy still in transition, investors and policymakers will be watching closely for signs of economic recovery or further downturns.
Source: https://abcnews.go.com/Politics/trump-vowed-make-economy-day-1-now-us/story?id=119674028