After lying to the American people about his promises to “rapidly defeat” inflation and “bring prices down” on Day One, Donald Trump is doubling down on his refusal to rule out a recession. As Trump’s “unpredictable” economic policies “begin to bite,” unemployment is rising, consumer confidence is plummeting, and Americans are bracing for a “serious Trump recession.” 

Here’s a look at widespread concerns after Trump refused to rule out a recession twice: 

New York Times: “Trump Declines to Rule Out Recession as Tariffs Begin to Bite”

“President Trump declined in an interview aired Sunday to rule out the possibility that his economic policies, including aggressive tariffs against America’s trade partners, would cause a recession.”

CNN: “US stocks opened sharply lower Monday after President Donald Trump said the US economy would see ‘a period of transition’ and refused to rule out a recession, in an interview that aired Sunday. …

“Stocks have been hammered so far this month amid uncertainty around Trump’s on-again, off-again tariff policy. The S&P 500 slid 3.1% last week, posting its worst week since September.”

Wall Street Journal: “Trump Declines to Rule Out Recession”

“There are some early signs of strain, with a drop in consumer spending and fears about inflation weighing on businesses.

“Later Sunday, Trump defended his tariff policy, telling reporters that the levies ‘are going to be the greatest thing we’ve ever done as a country.’ A reporter said he hesitated in the Fox News interview when he was asked about a recession. ‘Of course you hesitate,’ Trump said. ‘Who knows?’ …

“Treasury Secretary Scott Bessent last week also said that the U.S. economy could be in for a rough patch during this economic transition. …

“Trump has in recent days acknowledged the choppiness tariffs have brought. ‘There could be some disturbance, a little bit of disturbance,’ he said Friday.”

Financial Times: “US stocks fell on Monday, deepening the recent sell-off triggered by investor concerns over the impact of President Trump’s policies on the American economy. …

“‘Global growth and trade are under threat,’ said Paul Donovan, chief economist at UBS Global Wealth Management, adding that Trump’s policy on tariffs has been ‘unpredictable.’”

Bloomberg: “US gauges are showing their highest levels of credit risk this year Monday morning, as investors exhibit fresh concern about the state of the country’s economy in light of tariffs and cuts to the federal workforce.”

The Conference Board: “‘The [Employment Trends Index] fell in February to its lowest level since October,’ said Mitchell Barnes, Economist at The Conference Board. ‘Growing policy uncertainty is beginning to weigh on business and consumer sentiment, with more substantial impacts from federal layoffs and funding disruptions expected in the months ahead.’

“The share of consumers who report ‘jobs are hard to get’—an ETI component from the Consumer Confidence Survey®—rose 1.8 percentage points in February. The share of small firms that report jobs are ‘not able to be filled right now’ rose from 35% to 38%, its largest monthly increase in nearly a year.”

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