Economics
Trump Dismisses Recession Risk But Floats Ideas for Stimulus
- White House mulling payroll tax cut, indexing capital gains
- Administration touts U.S. economy even as it recognizes perils
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President Donald Trump has consistently rejected a growing number of forecasts that his trade war with China and slowing global growth are pitching the U.S. economy toward recession. But he’s also spending a lot of time outlining policies to stave it off.
Speaking to reporters Tuesday in the Oval Office, Trump said he’s open to a range of possible actions, including a payroll tax cut or bypassing Congress to reduce taxes by indexing capital gains. He repeated his demand that the Federal Reserve slash interest rates to bolster the economy. Yet he also suggested those actions aren’t necessary.