President Trump Admits US Economy in Transition, Acknowledges Risk of Recession

US President Donald Trump has acknowledged the negative impacts that his America First trade policies, including the implementation of tariffs, could have on the country. In a recent interview on NBC's "Meet the Press," Trump addressed the possibility of a recession in the short term and his views on the issue.

When asked if a recession was possible, he said:

Anything is possible, but I think we're going to have the greatest economy in the history of our country.

Trump stressed that he is not worried about that, making it clear that he is focused on finding long-term solutions to stabilize the US economy. "Look, yeah, it's - everything's fine. What we're - I said, this is a transition period. I think we're going to do great," he assessed.

Trump's comments came after a negative first-quarter 2025 GDP report. The Commerce Department's figures estimated that the economy shrank by 0.3% year-on-year, with experts blaming Trump's trade policies. Trump himself has brushed aside these explanations, explaining that the current economic woes are part of former President Joe Biden's legacy, calling it a "overhang."

"We came in January, these were the quarterly numbers, and we came in and I was very opposed to everything that Biden was doing economically, destroying our country in many ways," Trump noted in the same interview.

However, the first negative GDP reading in eleven quarters has raised alarms on Wall Street about the possibility of a recession. In April, before the report came to light, JPMorgan estimated the probability of a recession at 60%, citing aggressive US tariff policy as the reason behind it.