US on its way to a very big comeback, post coronavirus: Donald Trump
By Team Newsable | First Published Jun 11, 2020, 8:32 AM ISTTrump asserted the next year will be “maybe the best ever economy” that the US has seen.
Washington DC: Now that people are getting their jobs back and the stock market is booming after the crisis triggered by coronavirus, the United States is on its way to a “very big comeback”, President Donald Trump has said.
“We are on our way to a very big comeback,” Trump told reporters at the White House on Wednesday.
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The US, he said, is doing well in “so many ways”.
“You see what’s going on with NASDAQ. We just broke another record yesterday. Some good news came out of the Federal Reserve today, I think some very good news,” the President said.
“We’re really doing a financial comeback. The job numbers were fantastic. Now we’ll have some other job numbers come up over the next few weeks, and we’ll see how that goes, but I think it’s really good,” Trump said.
Trump asserted the next year will be “maybe the best ever economy” that the US has seen.
“You can already see it with the stock market how it’s been going up because you have a lot of smart people that are betting on exactly what I’m saying because the stock market is almost as high as it was prior to the plague floating in from China,” he said.
“It was a plague that floated in from China. Now they’re learning that it may have been much earlier, which bears out exactly what I’ve been saying. You saw that word yesterday that it may have come in a lot sooner than we were told,” he added.
Earlier during a news conference, White House Press Secretary Kayleigh McEnany said the President is encouraged because what “we’re seeing is a belief in the Trump economy and the Trump presidency”. “What we’re seeing is the market soar. We’re seeing the S&P have its best 50-day track record in history, because they believe in a President that has free-market policies that got us to the hottest economy in modern history and will get us there again,” she said.
However, the Federal Reserve on Wednesday offered a pretty grim economic outlook, saying unemployment is going to be elevated for years. Early this week, the National Bureau of Economic Research said that the US officially entered a recession.
McEnany asserted that the US economy is back on track.
“We believe that next month’s jobs report will be robust. The President has been clear that he expects Q3 to be a transition period, Q4 to be robust, and next year to be a very hot year. I would note that those in the prediction business, they were off by 10 million. That’s not too good,” she said.
(With inputs from PTI)
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