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.
https://twitter.com/QuickTake/status/1239639150304923650?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer
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.”
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org
U.S. military strikes on Iran could rapidly intensify soon, a senior military official exclusively told…
In mid-September, former president Barack Obama urged Democrat party candidates to seize on the issues…
The Army is moving to field a new drone-killing laser — and one company is…
Pope Leo XIV was discharged Saturday afternoon from Rome’s Agostino Gemelli University Hospital after a…
An explosion rocked a Canadian military base Saturday, leaving multiple dead and dozens injured as…
The Trump administration tapped the Federal Trade Commission) to lead consumer protection and law enforcement…