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Donald Trump, President of the United States, has stressed that his policy is responsible for the positive aspects of the current US economy, while associating the negative trend with his predecessor, Joe Biden, who he described has “done a terrible work.”
“In the end, I am responsible for everything,” the President said during an interview at the NBC “Meet The Press” event on Sunday. “But I have just been here for more than three months.”
In the midst of various economic signals and concerns that develop around the use of aggressive tariffs, Trump stated that “certain aspects” of the economy reflect their influence. “I can reduce costs,” he said. “I think the good part is Trump’s economy and the bad part is the Biden economy because he does a terrible job.”
Although the survey shows an increase in public anxiety about the economy, most official indicators have not shown signs of difficulty. Unemployment reached 4.2 percent while last month, and the March inflation rate was 2.3 percent, slightly above the federal reserve target.
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However, Federal Reserve officials and other experts have revised their estimates for the world’s leading economy, quoting slowing growth, increasing inflation, and unemployment. When asked about the possibility of US recession, Trump admitted that “anything can happen.” He added, “This is a transition period,” and states optimism which in the end “we will do fantastic” with “the biggest economic explosion in history.”
Regarding trade relations that are significantly disrupted with China, after the imposition of Trump tariffs of 145 percent, he stated, “We basically have cut off trade relations by placing that much tariff.” Trump suggested that the Chinese “want to make a very bad agreement,” and he finally anticipated the tariff level.
The President has become a vocal and consistent critic of the Chairman of Federal Reserve Jerome Powell, which he appointed in 2018 during his first term of office. In the interview, he reiterated his view that “he must lower interest rates,” which states that now is “the right time” to do it.
Federal Reserve Governor is scheduled to meet on Tuesday and Wednesday, where they are expected to maintain the current break in slaughtering interest rates while assessing the impact of tariffs on the economy. Most analysts anticipate that the Fed will maintain tariffs in the range of 4.25 to 4.50 percent, where they have been since December.
The President also clarified his position at Powell’s term of office. While he had previously drifted out of the possibility of firing the chairman of Fed, the role intended for most of the independent of political influence, he told NBC that he now hopes to wait until the term Powell ends in May 2026 before the replacement naming.
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