Donald Trump said in an interview on Sunday that his policies are responsible for the “good parts” of the US economy today, while Joe Biden, his predecessor, “did a terrible job.”
In an appearance with NBC’s “Meet the Press” discussion show, the US president stated, “In the end, I accept responsibility for everything.”
However, I have only been here for a little over three months.
Trump claimed that “certain aspects” of the economy are his fault during a period of conflicting economic data and growing apprehension over his aggressive use of tariffs. “I was able to get down the costs,” he stated.
“I think the good parts are the Trump economy and the bad parts are the Biden economy because he’s done a terrible job.”
With unemployment last month at a low 4.2 percent and inflation in March at 2.3 percent, slightly beyond the Federal Reserve’s objective, most official indicators are not yet flashing red, despite surveys suggesting that public worry over the economy is mounting.
However, Fed officials and others have reduced their forecasts for the top economy in the world, citing slower growth and more unemployment and inflation.
In response to a question about the likelihood of a US recession, Trump stated, “Anything can happen.”
He declared, “This is a transition period,” but in the end, “we’re going to do fantastically” with “the greatest economic boom in history.”
He stated that “we’ve essentially cut off trade relationships by putting that much of a tariff on” in reference to trade with China, which was severely disrupted after Trump imposed tariffs of 145%.
However, he went on, “That’s alright… We are therefore not losing.
The Chinese “want to make a deal very badly,” according to Trump, who also predicted that the tariff rate would eventually be lowered.
Trump appointed Fed chair Jerome Powell in 2018 during his first term, and the billionaire Republican has been a harsh and steadfast critic of him, telling NBC that “he should lower interest rates.”
He claimed that this is the “perfect time” to do so.
At their meetings on Tuesday and Wednesday, Fed governors are anticipated to prolong a pause in rate decreases while they observe the effects of tariffs on the economy.
The majority of economists anticipate that the Fed will maintain rates in the 4.25–4.50% level that they have been in since December.
Trump even hinted last month that he would fire the Fed chair, who holds a post that is supposed to be mainly politically neutral.
However, he informed NBC that he now anticipates delaying the appointment of a successor until May 2026, when Powell’s term ends.
