In a wide-ranging interview on Sunday, U.S. President Donald Trump said he takes full responsibility for the current state of the American economy, while attributing its struggles to policies enacted by his predecessor, Joe Biden.
“Ultimately, I take responsibility for everything,” Trump told NBC’s Meet the Press. “But I’ve only just been here for a little more than three months.”
Trump claimed that the “good parts” of the economy are a result of his policies since assuming office earlier this year, while arguing that Biden “did a terrible job” and left behind economic issues still being felt.
At a time of mixed economic signals, Trump pointed to what he described as early successes in reducing costs. “Certain aspects [of the economy] are my doing,” he said. “I was able to get down the costs.”
While official statistics indicate relatively stable conditions—unemployment at 4.2 percent and inflation at 2.3 percent as of March—economic forecasts have been revised downward. Economists and Federal Reserve officials are increasingly cautious, citing slowing growth and emerging inflationary pressures.
When asked about the possibility of a recession, Trump acknowledged the uncertainty: “Anything can happen. This is a transition period,” he said, but added confidently, “We’re going to do fantastically… the greatest economic boom in history.”
On the subject of U.S.-China trade, Trump defended his imposition of a steep 145 percent tariff, a move that has severely strained bilateral trade ties. “We’ve essentially cut off trade relationships by putting that much of a tariff on,” he stated. “That’s okay… That means that we’re not losing.”
Despite the aggressive stance, he said he expected China to return to the negotiating table, hinting at a possible reduction in tariffs down the line.
Trump also renewed his criticism of Federal Reserve Chairman Jerome Powell, who was first appointed by Trump in 2018. The president called for a cut in interest rates, arguing that now is the “perfect time” to act. Although Trump previously floated the idea of firing Powell, he now says he will wait until Powell’s term ends in May 2026 to name a successor.
The Federal Reserve is set to meet this week, with analysts expecting it to maintain the current interest rate range of 4.25 to 4.50 percent while assessing the broader economic impact of Trump’s tariff policies.
Trump’s remarks come amid growing public concern over the economic outlook, with political and financial observers closely watching how his administration will manage challenges in the months ahead.
