White house rejected fears over economic recession,defended war trade
Trump told reports: “I don’t think we’re having a recession,” Trump told reporters. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”
The bonds market issued a signal on Wednesday,which is usually interpreted as a sign of recession.the yields broke below two years record.and dow jones decreased by 800 points or 3%.
Mr trump called heads of “J.P Morgan Chase”,bank of America and Citigroup as stock market plummeted on Wednesday.
He asked them to say what they think about consumers.
They replied:consumers are doing well, but could do even better if issues such as the China-U.S trade war were resolved.
Trump’s economic advisor,Larry kudlow said on Sunday Strong Retail sales and unemployement rate simply indicate that the economy is strong.
He also added “I think we’re in pretty good shape.” And there won’t be any recession..