Spooked Trump insists U.S. recession not on the cards

Spooked Trump insists U.S. recession not on the cards

While continuing to publicly downplay warning signs that the USA economy is barreling toward a recession, the Trump White House is reportedly weighing a number of supposed stimulus measures, including more tax cuts for the rich and large corporations.

The president has long maintained that the burden of the tariffs is falling exclusively on China, yet that message was undermined by his statements to reporters Tuesday prior to a meeting in the Oval Office with the president of Romania.

Naturally, that's not what Trump or his advisors have been saying in the days since long-term Treasury bond rates fell below short-term bond rates - a frequent sign of a looming recession.

With the 2020 election just around the corner and economic experts predicting a potential downturn in the economy, White House officials tell ABC News that they're considering additional payroll tax cuts that could put more money in the pockets of Americans. Catch all of the Dwell TV motion on HEARALPUBLICIST 24×7 and HEARALPUBLICIST India. And reports that the White House is considering temporary stimulus measures could fuel such economic pessimism.


The tax cut speculation comes just a week after the US bond yield curve inverted for the first time in more than a decade - a development that's often considered by experts to be a harbinger of economic strife.

"We've been talking about indexing for a long time, and many people like indexing", Trump said.

Revamping capital gains taxes through a rule or executive order likely would face legal challenges, a concern that reportedly prompted former President George H.W. Bush's administration to drop a similar plan. "Our economy's incredible", Trump told reporters at the White House Tuesday.

"We will go into a recession".


"We really need a Fed rate cut", Trump said, saying there can not be a large "disparity" between rates in the United States and elsewhere in the developed world. Major domestic and global stock indexes have swung considerably in recent weeks as investors react to subpar economic indicators and ongoing turbulence from the Trump administration's trade war with China.

US President Donald Trump on Tuesday described fears that the US may soon fall into recession as "irrelevant", and defended his decision to wage a trade war with China. He has previously called for a one percentage point cut.

The change in capital gains tax calculation would have little chance of passing Congress, which is why Trump is interested in making the change without legislative approval.

"If the Fed would do its job, we'd have a tremendous burst of growth", Trump said. Employees pay the tax on income up to $132,900. "And it's something that would be very easy to do", he said.


"I think the word "recession" is a word that's inappropriate".

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