CNN
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President Donald Trump mentioned the US economic system is a mix of his enacted insurance policies and the results of the Biden administration in a wide-ranging interview on NBC’s “Meet the Press with Kristen Welker.”
“I believe the great elements are the ‘Trump economic system’ and the unhealthy elements are the ‘Biden economic system’ as a result of he’s carried out a horrible job,” Trump mentioned within the interview that aired Sunday.
Trump not too long ago accomplished his first 100 days in workplace, with 66% of Individuals saying they’re pessimistic (29%) or afraid (37%) in regards to the economic system, in keeping with a CNN/SSRS ballot launched Monday. Simply 34% say they really feel enthusiastic or optimistic. General, 69% of the general public considers an financial recession within the subsequent yr to be at the very least considerably possible, together with 32% who say that’s very possible.
Trump took credit score for bringing prices down. “I used to be in a position to get down the prices. However even that, it takes some time to get them down. However we acquired them down good,” he mentioned.
Common grocery costs had been about 2.41% increased in March 2025 than they had been in March 2024, Consumer Price Index data shows. This was the best year-over-year grocery inflation charge since August 2023.
Welker requested Trump if he would “take accountability” for the unstable inventory market, which steeply declined after he introduced sweeping, reciprocal tariffs.
“I’ve solely simply been right here for slightly greater than three months. However the inventory market, have a look at what’s occurred within the final brief time period. Didn’t it have 9 or 10 days in a row, or 11 days, the place it’s gone up? And the tariffs have simply began kicking in. And we’re doing rather well,” Trump mentioned.
On Friday, the S&P 500 closed at 5,686.67, down 6% since January 21, the primary buying and selling session of Trump’s time period. On April 9, the S&P surged 9.5%, its finest day by day efficiency in practically 17 years, after Trump paused tariffs on most nations.
“What’s going to occur with the market? I can’t inform you, however I can inform you, our nation has gotten rather a lot stronger, and finally it’ll be a rustic like no different,” Trump mentioned on April 6, while downplaying inventory losses and including, “I don’t need something to go down, however generally it’s a must to take medication to repair one thing.”
Trump has offered little reassurance to Individuals and enterprise homeowners in regards to the short- and long-term results of his financial insurance policies, just like the imposed 145% tariff on Chinese imports, the elimination of the de minimis exemption, rounds of tariffs on auto imports and a common 10% tariff charge in the course of the 90-day pause on most reciprocal tariffs.
Welker requested Trump, “You’re not taking the likelihood that (a few of) these tariffs could possibly be everlasting off the desk?”
“No, I wouldn’t try this. As a result of if any person thought they had been going to return off the desk, why would they construct in america?” Trump mentioned.
Whereas he’s offered some reduction to main corporations, significantly automobile makers that obtained delays on tariffs and at the moment are allowed some reimbursements on imported automobile elements, Trump declined to supply reduction for small companies.
“They’re not going to wish it,” he instructed Welker.
Trump mentioned he does “take accountability for every thing,” including that “the tariffs are going to make us wealthy. We’re going to be a really wealthy nation.”
However considerations in regards to the influence of tariffs have brought about an rising variety of Individuals to fret a couple of potential recession.
In April, JPMorgan mentioned the chances of a recession had been 60%, up from 40%. Goldman Sachs mentioned the chances of a recession had been 45%.
“Every little thing’s OK,” Trump instructed Welker. “It is a transition interval. I believe we’re going to do fantastically.”
Trump added that he’s not nervous a couple of recession. However when requested if he thinks a recession might occur, he mentioned, “Something can occur.”
Welker requested Trump about rising costs on items resulting from tariffs. Trump mentioned shoppers might have to buy fewer items.
“I don’t assume that an attractive child lady wants … to have 30 dolls. I believe they will have three dolls or 4 dolls as a result of what we had been doing with China was simply unbelievable,” Trump mentioned.
Amid his ongoing battle with the economic system, Trump has repeatedly attacked Federal Reserve Chair Jerome Powell for not reducing rates of interest shortly sufficient. He not too long ago known as Powell “a significant loser” whose “termination cannot come soon enough.”
The feedback left some questioning if Trump would try to fireside Powell earlier than the Fed chair’s time period ends in 2026. Trump has mentioned he has “no intention of firing” Powell.
Within the interview with Welker, Trump reiterated that he wouldn’t hearth Powell, saying that he’ll already “get to alter him in a short time anyway.”
Powell has mentioned the legislation doesn’t allow a president to take away a Fed chair. Most authorized students agree with Powell on this level, with exceptions for extraordinary circumstances, similar to unlawful habits.
