Trump says the U.S. is in a transition phase and dismisses fears over a brief economic downturn.

Trump Downplays Recession Concerns, Calls U.S. Economy ‘In Transition’

President Donald Trump sought to reassure Americans about the state of the U.S. economy on Friday, characterizing it as being in a “transition phase” and minimizing concerns over a short-term downturn. Speaking in an interview and echoing earlier remarks on social media, Trump emphasized his confidence in the country’s economic trajectory despite new data showing signs of slowing growth.

The comments come amid declining public approval of Trump’s economic performance and mixed signals from key indicators such as job growth and GDP. Economists remain divided, with some warning that recent trade policies could drag on the economy, while others point to resilient consumer spending as a sign of potential recovery.

 President Donald Trump on Friday described the United States as being in a “transition period” and expressed optimism about the country's future, saying it would do “fantastically,” while downplaying concerns about a possible short-term recession. In an interview with NBC News, when asked whether a brief recession would be acceptable, Trump responded: “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.”

Trump’s remarks about the U.S. economy being in a “transition period” echoed statements he made earlier Friday on social media, where he pointed to strong employment figures and repeated his call for the Federal Reserve to cut interest rates. “We’re only in a transition stage, just getting started!” he wrote on Truth Social, shortly after data showed U.S. job growth had slowed slightly in April. Now past his 100th day in office, Trump is facing increasing public dissatisfaction over his economic policies, with many economists warning that recent tariffs could fuel inflation and hinder growth.

A Reuters/Ipsos poll completed on Sunday showed that 42% of respondents approve of President Trump’s job performance—a five-point drop since shortly after his January 20 inauguration. Meanwhile, advance GDP data released Wednesday by the U.S. Commerce Department indicated the first quarterly economic contraction in three years, driven in part by businesses accelerating imports ahead of Trump’s tariffs. Still, some economists point to strong consumer spending and private investment as potential indicators of a forthcoming rebound.