WASHINGTON: US President Donald Trump on Tuesday (Aug 20) insisted that recession - a potentially dangerous blow to his re-election next year - is ...
WASHINGTON: US President Donald Trump on Tuesday insisted that recession - a potentially dangerous blow to his re-election next year - is not in the cards. But he indicated he's preparing just in case.
Growth has been on the upside for a decade now and Trump happily takes credit for low unemployment and what he repeatedly claims to be"the hottest" economy in the world.An alarm bell went off in the US Treasury bond market last week when 10-year bond yields briefly fell below the yields offered on a two year-bond - the inverse of what normally happens.
In extensive comments to reporters, Trump piled on the superlatives, saying the"incredible" economy was doing"fantastically" and was"number one in the world."How can you tell? He's already blaming people for the recession he says won't happen. Last week, the president branded Fed chief Jerome Powell"clueless," and tweeted in all caps:"CRAZY INVERTED YIELD CURVE!"Villain number two is the US media, which Trump and his aides accuse of trying to whip up recession fears deliberately to hurt him.
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