President Donald Trump said on Friday that he would not worry about a short -term recession and reiterated that the country was simply during the transition period. He told NBC News:
“Look, yes, it's – everything is fine. What are we – I said it is a transition period. I think we will do fantastically.”
Trump did the same statement On the social about the truth, writing: “We are only at the transition phase, let's just start!” It came after April employment showed a slower increase in employment.
He used new numbers to repeat his demand for the federal reserve to reduce interest rates, claiming that lower interest rates with permanent jobs are postponing the economy.
Recently, Trump has been trying to control this story since his 100th tenure is increasing his economic handling. Some economists warn that his tariffs increase inflation and growth. He ignores it and sticks to his line.
The stock market is rising as trade transactions and the fabric of fed decisions
A new survey of Reuters/IPSOS showed that Trump's approval rating fell back in the White House after 20 January, now sitting in 42%. People have begun to return to the way of dealing with the economy.
The report of the trade department showed that GDP fell for the first time in three years. The decline happened after the companies rushed to buy goods in front of Trump's tariffs.
However, some economists said consumers' spending and private investment strong signs, the growth of which could bounce back. On the market side, Wall Street rally. S&P 500 recovered from the fall of April 2 and posted its longest victory lines since 2004. For the first time, the index exceeded its 50-day moving average within two months. This benefit came after China showed interest in talking about trade again.
Art Hogan, the chief strategist of B. Riley Wealth Management, said: “In my opinion, investors are waiting for the exploitation of April 2.” Hogan said that only one deal with a big trading partner could move.
“We are about this 90-day window and I think investors would respond positively to the tape of this first transaction.” Art attached This Chinese can be considered more time, but in agreement with Mexico, Canada, Japanese or Eurozone can have the same effect. “I definitely feel as if it was monumental,” he said.
Although traders are pursuing benefits, many may still think that the US economy may slow down. According to some investors, the state could avoid a complete recession, but there is a risk. Technically, the S&P 500 broke through the short-term resistance, but it still hasn't exceeded the 200-day sliding average. The index had lasted about 5694.
Fairled Strategies founder Katie Stockton said the next resistance is 5783, which is the same level from the November election day. He said: “We saw a distribution that was more important than a short-term breakthrough. I call it back and forth for a trip-despite the recent collisions, the diagrams are damaged.”
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