Trump Commerce Secretary Howard Lutnick on Tuesday argued the president’s economic policies would be “worth it” for the country, even if a recession follows — just two days after he promised there would be no recession.
“Donald Trump is a winner. He’s going to win for the American people,” Lutnick said in a “Meet the Press” interview Sunday on NBC News. “That’s just the way it’s going to be. There’s going to be no recession in America.”
On Tuesday, Lutnick spoke very differently about recession fears and appeared to prepare for the possibility:
CBS News’ Nancy Cordes: “Will these policies be worth it if they lead to a recession, even a short-term recession?”
Lutnick: “These policies are the most important thing America has ever had.”
Cordes: “So, it is worth it?”
Lutnick: “It is worth it. A) I don’t think they’ll — the only reason there could possibly be a recession is because of the Biden nonsense that we had to live with.”
Stock markets rebounded a bit Wednesday. The Nasdaq added 1.22% and closed at 17,648.45 points, while the S&P 500 ticked up by 0.49% to finish trading at 5,599.30 points. The Dow Jones Industrial Average decreased by 82.55 points, or 0.2%, to end the day at 41,350.93 points.
Before that, the stock market had been walloped in recent days, particularly Monday, when it posted its worst performance of the year. The Dow dipped by 2.1%, the S&P 500 dropped by 2.7%, and the Nasdaq fell by 4%. The falls continued Tuesday, as the Dow fell another 478 points (1.1%), the S&P 500 dipped almost 0.8%, and the Nasdaq declined by nearly 0.2%.
