WASHINGTON — President Donald Trump downplayed economic concerns on Tuesday despite markets plunging for the second consecutive day over concerns of a recession.
Speaking at the White House on Tuesday with Elon Musk by his side, Trump dismissed fears of a recession amid the Dow Jones plummeting.
“I don’t see it at all. I think this country is going to boom,” Trump said. “But as I said, I can do it the easy way or the hard way. The hard way to do it is exactly what I’m doing. But the results are going to be 20 times greater.”
“Remember: Trump is always right,” he added.
Trump spoke with major business leaders Tuesday evening, touting Elon Musk’s work at the Department of Government Efficiency (DOGE).
“The tariffs are going to be throwing off a lot of money to this country. And we’ve been ripped off for years by other countries many, many decades,” he said.
The White House earlier Tuesday attempted to shift the news of market turmoil as a “snapshot of a moment in time” before Trump’s policies make impact.
“We are in a period of economic transition,” press secretary Karoline Leavitt told reporters.
Leavitt blamed the Biden administration for what she claimed was an “economic disaster” left to Trump — despite Biden overseeing a soft economic landing — and top economists calling the Biden economy the best in the world after the coronavirus pandemic.
“The American people, CEOs, and people on Wall Street and on Main Street should bet on this president,” Leavitt told reporters. “He is a dealmaker. He is a businessman and he’s doing what’s right for our country.”
The attempt to backtrack and calm Americans comes after the markets suffered losses for the second consecutive day. The Dow Jones closed down nearly 400 points — just on day after markets closed now over 900 points.
