Trump says US will experience 'period of transition' when asked if economy could see a recession this year

Trump says US will experience 'period of transition' when asked if economy could see a recession this year

                                                                               

President Donald Trump declined to explicitly rule out a full-blown recession for the U.S. economy this year, telling Maria Bartiromo in a recent "Sunday Morning Futures" exclusive that the country will see a "period of transition" as his policies take effect.

"I hate to predict things like that," he said 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."

The president's comments come amid some business leaders' instability concerns over tariffs imposed on China, Canada and Mexico, as well as growing concerns of a potential economic slowdown. 

The Atlanta Federal Reserve has predicted a contraction of -2.8% in the first quarter, Bartiromo pointed out.

                                                                   

President Donald Trump discusses his latest talks with Iran, shedding light on how he prefers to negotiate a deal.

Goldman Sachs raised the expectations of a recession within the next 12 months to 20%, while JP Morgan says the probability of a recession stands at 35%.