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Trump: US Economy ‘May Be’ Headed For Recession

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President Donald Trump on Monday said the United States “may be” headed for a recession as the economy slows to a crawl amid the coronavirus epidemic.

“Is the U.S. economy heading into a recession?” a reporter asked Trump at a coronavirus task force briefing at the White House.

“Well, it may be,” Trump said, adding: “We’re not thinking in terms of recession. We’re thinking in terms of the virus.”

Economists have increasingly predicted a global recession. Goldman Sachs issued a forecast Sunday that the U.S. economy will shrink by 5% in the second quarter.

Trump predicted a robust recovery later in 2020.

“I think there’s a tremendous pent up demand, both in terms of the stock market and in terms of the economy,” he said.

“Once this goes away, once this goes through and we’re done with it, I think we’re going to see a tremendous surge.”

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2 Comments

  1. “Is the U.S. economy heading into a recession?” a reporter asked Trump at a coronavirus task force briefing at the White House.
    “Well, it may be,” Trump said, adding: “We’re not thinking in terms of recession. We’re thinking in terms of the virus.”

    Does the reporter realize Pres. Trump is walking a tight rope if he just blurts out “Yeah Were Going into a Recession” can you imagine with the markets would do? Pres. Trump is keeping his eye on the ball, managing this virus spread correctly will ultimately determine what kind of an economic hit we will take, a soft or a hard landing.

  2. So the United States experiences the lowest Wuhan Virus infection rate per million of population, 11.6/1,000,000. So why are the stock markets reacting so violently?

    Remember where Wall Street is located, in New York City, the home of that pseudo-socialist De Blasio. No wonder most of the democrat market players want to see the stock market collapse. They believe a stock market collapse will hurt the reelection chances of President Trump.

    Well patriots will show them they are wrong! Look at Tuesday’s special election in PA18 as an example. The republican won in a usually democrat district.

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