Trump says he doesn't see any signs of a recession

Donald Trump.
(Image credit: Nicholas Kamm/AFP/Getty Images)

President Trump on Sunday said the economy is "doing very well," and rejected the notion that a recession could be on the horizon.

Last week was a turbulent one on Wall Street, with stocks and bonds going up and down and investors spooked by the first inverted yield curve in more than a decade, but Trump said the United States is doing "tremendously well. Our consumers are rich. I gave a tremendous tax cut and they're loaded up with money."

Trump's comments echoed those made earlier in the day by Larry Kudlow, his top economic adviser. "No, I don't see a recession," he said. "We're doing pretty darn well in my judgment. Let's not be afraid of optimism." Kudlow also said that while the energy sector may be slowing down, unemployment is low and retail is doing well.

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Catherine Garcia, The Week US

Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.