White House senior trade adviser Peter Navarro promised Fox News viewers Monday that there will be “no recession” as a result of President Donald Trump’s ongoing trade war, despite mounting concerns following recent market volatility.
Speaking on The Ingraham Angle, Navarro responded to host Laura Ingraham’s question about when the markets might rebound. “It’s finding a bottom now,” Navarro said. “It’s going to shift over, and it’s going to be companies in the S&P 500 who are the first to produce here. Those are the ones going to lead the recovery.”
He continued, offering a prediction: “Dow 50,000, I guarantee that, and I guarantee no recession.”
Navarro attributed his optimism to a forthcoming tax package he described as “the biggest, broadest tax cut in history,” which he said would stimulate the economy without triggering inflation. He also pointed to a recent drop in oil prices and lower interest rates as factors supporting economic stability.
“Lower oil prices take a point off the CPI,” Navarro said, referring to the Consumer Price Index. “We’re gonna have lower yields and mortgage [rates].”
The comments came as markets remained under pressure following President Trump’s announcement of sweeping new tariffs affecting dozens of countries and territories—including some uninhabited islands. The stock market experienced huge declines last week and continued its downward trend on Monday before rising on Tuesday.
The situation prompted a White House reporter to ask Trump whether he was “crashing the markets on purpose.” The president responded with a social media post urging Americans to be patient.
“The United States has a chance to do something that should have been done DECADES AGO,” Trump wrote. “Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!) Be Strong, Courageous, and Patient, and GREATNESS will be the result!”
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One Response
He is correct. The do nothing billionaires in the stock market take in their money while most working Americans struggle with high taxes if every kind. Trump wants to do away with taxes and use the tariffs from other countries to pay our countries expenses. Makes sense.