President Donald Trump is doubling down on his economic narrative, claiming credit for the positive trends in the U.S. economy while pointing fingers at former President Joe Biden for any signs of trouble. In a wide-ranging interview aired Sunday on NBC’s Meet the Press, Trump delivered his trademark economic bravado, saying, “The good parts are the Trump economy, and the bad parts are the Biden economy because he’s done a terrible job.”
Though he’s only been back in office for a little over three months, Trump insisted that his influence is already showing in “certain aspects” of the economy. He touted lower costs and projected what he called “the greatest economic boom in history,” despite analysts expressing concern over mixed signals and rising instability.
Official numbers present a complicated picture. Unemployment was at a manageable 4.2% last month, and inflation sat at 2.3% in March—slightly above the Federal Reserve’s target but far from alarming. Yet behind the scenes, experts and Fed officials have been adjusting their outlooks, citing slower growth and fears that current conditions could slide toward recession. Trump didn’t deny the possibility, saying, “Anything can happen,” but characterized the moment as a “transition period” on the road to greater prosperity.
One major concern hanging over the economic outlook is Trump’s hardline trade policy with China. His administration recently imposed a massive 145% tariff, which he acknowledged has essentially shut down trade between the two nations. Still, he remains confident in the strategy, suggesting the Chinese “want to make a deal very badly” and hinting that the tariffs could be rolled back once leverage has been re-established.
Trump also revisited his long-running criticism of Federal Reserve Chair Jerome Powell, a man he appointed in 2018. Urging Powell to lower interest rates, Trump declared this the “perfect time” for rate cuts. However, with the Fed set to meet this week, most analysts expect interest rates to stay locked in the 4.25% to 4.50% range, where they’ve remained since last December.
While Trump has previously hinted at firing Powell—a move that would break with the tradition of Fed independence—he now says he’ll likely wait until Powell’s term ends in May 2026 before considering a replacement.
