United States President, Donald Trump has acknowledged that he bears full responsibility for the state of the country’s economy, while also placing blame on his predecessor, Joe Biden, for what he described as inherited challenges.
In an interview aired Sunday on NBC’s Meet the Press, Trump said, “Ultimately, I take responsibility for everything.”
However, he added, “But I’ve only just been here for a little more than three months.”
Trump maintained that the positive trends in the economy are the result of his leadership, while ongoing difficulties stem from the previous administration.
“I think the good parts are the Trump economy and the bad parts are the Biden economy because he’s done a terrible job,” he said.
Despite public concerns over inflation and economic uncertainty, official data show some stability: unemployment stood at 4.2 percent last month, and inflation was 2.3 percent in March, slightly above the Federal Reserve’s target.
Still, economic forecasts have dimmed, with the Fed and other analysts warning of slowing growth and rising joblessness.
Trump was asked whether a recession could be on the horizon.
“Anything can happen,” he responded. “This is a transition period,” he said, while expressing confidence in an eventual turnaround: “We’re going to do fantastically,” he claimed, predicting “the greatest economic boom in history.”
On trade, Trump defended his aggressive stance toward China, including the imposition of steep 145 percent tariffs.
“We’ve essentially cut off trade relationships by putting that much of a tariff on,” he said. But he downplayed concerns over the impact, adding, “That’s okay… That means that we’re not losing.”
Trump insisted that Beijing is eager to resolve the standoff.
“The Chinese want to make a deal very badly,” he said, and hinted that tariffs might be reduced in the future.
He also reignited criticism of Federal Reserve Chairman Jerome Powell, his own appointee from 2018, urging the Fed to cut interest rates.
“He should lower interest rates. Now is the perfect time to do so,” Trump said.
With the Fed set to meet this week, most economists expect the central bank to maintain current interest rates, which have held steady between 4.25 and 4.50 percent since December.
Although Trump previously suggested removing Powell before his term expires, he told NBC he now plans to wait until Powell’s tenure ends in May 2026 before naming a replacement.
