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The Trump administration keeps downgrading its economic projections amid the coronavirus pandemic


American Politics

The Trump administration keeps downgrading its economic projections amid the coronavirus pandemic

One of President Trump’s top advisers Sunday made a prediction about the 2020 election.“Going into November … it’s not going to be about the pandemic, it’s going to be about jobs,” trade adviser Peter Navarro told ABC News. “What we have to do now is rebuild the economy.”But as the United States has continued to…

The Trump administration keeps downgrading its economic projections amid the coronavirus pandemic

Among President Trump’s top advisors Sunday made a prediction about the 2020 election.

” Entering Into November … it’s not going to have to do with the pandemic, it’s going to have to do with jobs,” trade adviser Peter Navarro told ABC News “What we have to do now is rebuild the economy.”

But as the United States has continued to exceed coronavirus death toll predictions made by Trump, the president and his administration have actually shifted their focus to the economy even while downgrading their forecasts for when it will recuperate and how serious the hit will be. You can view Trump and his advisers do this again and again in the video above.

” The infection is not going to sink the American economy,” Larry Kudlow stated at the Conservative Political Action Conference on Feb.28 “What is or could sink the American economy is the socialism originating from our pals on the other side of the aisle. That’s the biggest worry that I have today.”

Less than a month later on, Kudlow acknowledged the coronavirus would trigger an economic recession however stated it would be only “weeks and months.”

” It’s not going to be years, that’s for sure,” Kudlow said on March 24.

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Each of these modifications were in line with what lots of financial experts, consisting of the White Home’s own economists, had been projecting, however they have actually been notably at chances with Trump’s ongoing reassurances about a quick economic recovery later this year.

On Thursday, Trump partially acknowledged the extent of the predicted economic recession, when asked if the joblessness rate would fall listed below 10 percent by September.

” No, but by next year I think we’re going to be really, extremely strong once again,” Trump said. “And I think what’s going to occur is next year’s going to be one of our best years. I feel that we will transition in this 3rd quarter. 4th quarter is going to be great. Next year is going to be incredible.”

” We’re going to have enormously low unemployment,” Trump said on Feb. 26 when asked about the danger to the economy. “But this would have, you know, an impact on GDP. However we’re still really, very– we’re doing great.”

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