President Donald Trump on Friday sought to ease concerns about a possible economic downturn, saying the U.S. economy would be “OK” in the long run—even if it experienced a short-term recession.
In an interview with “Meet the Press” moderator Kristen Welker, Trump was asked twice whether a recession would be acceptable if it led to stronger long-term growth. “Look, yeah, it’s — everything’s OK. What we are — I said, this is a transition period. I think we’re going to do fantastically,” he said.
When Welker followed up by asking if he was worried about a recession, Trump replied, “No.” Pressed again on whether he thought one might occur, he said, “Anything can happen, but I think we’re going to have the greatest economy in the history of our country.”
His comments come amid growing concern on Wall Street about a potential recession, fueled by Trump’s evolving tariff policies. The president dismissed these fears during the interview, conducted at his Mar-a-Lago resort in Florida. “Well, you know, you say, ‘Some people on Wall Street say’ — well, I tell you something else. Some people on Wall Street say that we’re going to have the greatest economy in history. Why don’t you talk about them?” he said. “There are many people on Wall Street say this is going to be the greatest windfall ever happen.”
The Commerce Department reported earlier this week that the U.S. economy contracted by 0.3% in the first quarter of 2025. The drop was largely attributed to a fall in exports and a surge in imports ahead of the administration’s expected tariffs.
During a Cabinet meeting on Wednesday, Trump distanced himself from the disappointing GDP figures, attributing them to the policies of former President Joe Biden. “You probably saw some numbers today,” Trump told reporters. “And I have to start off by saying, that’s Biden. That’s not Trump. Because we came in on January, these are quarterly numbers, and we came in and I was very against everything that Biden was doing in terms of the economy, destroying our country in so many ways.”
Since taking office in January, Trump has introduced sweeping tariff changes targeting major U.S. trade partners, including Canada, Mexico, and China. Although he paused plans for broader tariffs last month for 90 days, he has also sharply increased tariffs on Chinese goods, raising the rate to 145%.
Despite market volatility and consumer concerns, Trump has downplayed the potential impact on household goods. During the Cabinet meeting, he said, “Somebody said, ‘Oh, the shelves are going to be open.’ Well, maybe the children will have two dolls instead of 30 dolls, you know? And maybe the two dolls will cost a couple of bucks more than they would normally.”
