Trump says short-term recession OK: "This is a transition period"
President Trump says a recession is OK in the short term, in a clip of a pre-recorded interview with NBC's "Meet the Press with Kristen Welker" released on Friday.
Why it matters: Business owners and politicians alike have shared fears of a recession given the uncertainty surrounding the president's tariffs.
Apollo chief economist Torsten Slok put the probability of a Voluntary Trade Reset Recession at 90% in a 40-page slide deck last month.
The latest: When Welker asked Trump if he's "comfortable with the country potentially dipping into a recession for a period of time" if he were able to achieve his long-term goals, the president initially avoided answering the question directly.
"Some people on Wall Street say that we're going to have the greatest economy in history. Why don't you talk about them?" he instead said.
But after Welker pushed more, Trump responded that "yeah, everything's OK. I said, this is a transition period. I think we're going to do fantastically."
When asked if he were worried about a recession, Trump said: "Anything can happen. But I think we're going to have the greatest economy in the history of our country. I think we're going have the greatest economic boom in history."
The full interview will publish on NBCNews.com Sunday.
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