Trump announces period of transition for U.S. economy
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On Sunday morning, March 9th, Fox News aired an interview with President Trump, who ruled out the arrival of a recession but stated that the U.S. economy will experience a transition phase. The markets reacted with concern; in fact, on Monday, March 10th, Dow Jones opened lower (-0.96%) S&P 500 fell by 1.4%, and Nasdaq Composite dropped by 1.95%.
Markets had already gone through a month of turmoil, influenced by uncertainty and concerns regarding U.S. trade and economic policies. Additionally, mass layoffs in the federal sector, a decline in hiring, and the erosion of CPI (Consumer Price Index) are painting an worrying economic picture for investors and analysts, who are awaiting the release of February's inflation reports that will be published this week.
Meanwhile, U.S. Commerce Secretary Lutnick stated that U.S. citizens should not prepare for a recession. Trump and his advisers stated that the end result of these measures will make American products cheaper and foreign ones more expensive, thus predicting that the health of the U.S. economy will improve once the new trade policies take effect.
Markets had already gone through a month of turmoil, influenced by uncertainty and concerns regarding U.S. trade and economic policies. Additionally, mass layoffs in the federal sector, a decline in hiring, and the erosion of CPI (Consumer Price Index) are painting an worrying economic picture for investors and analysts, who are awaiting the release of February's inflation reports that will be published this week.
Meanwhile, U.S. Commerce Secretary Lutnick stated that U.S. citizens should not prepare for a recession. Trump and his advisers stated that the end result of these measures will make American products cheaper and foreign ones more expensive, thus predicting that the health of the U.S. economy will improve once the new trade policies take effect.