Trump: US economy enters'transition period ', refuses to rule out recession

President Donald Trump has refused to rule out the possibility that the U.S. economy will contract and enter recession this year, saying his comprehensive economic agenda could create short-term turbulence but he believes it will fuel future prosperity.
Asked in an interview on Fox News' Sunday Morning Futures whether he expected a recession this year, Mr. Trump replied: "I hate predicting things like that. There's a transition period because what we're doing is very big. We're bringing wealth back to America, and that's a big thing."
Last week, US Treasury Secretary Vincent also said that the US economy may experience a difficult period during this economic transition.
In a televised address on Sunday, Commerce Secretary Luthenick ruled out a contraction. "There is no recession in the United States," he said on NBC News' "Meet the Press." The U.S. economy has not been in a recession since the epidemic began in 2020. "