A number of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021.
Thirty-four percent of economists surveyed by the National Association for Business Economics, in a report being released yesterday, said they believe a slowing economy will tip into recession in 2021. That’s up from 25% in a survey taken in February. Only 2% of those polled expect a recession to begin this year, while 38% predict that it will occur in 2020.
Trump, however, has dismissed concerns about a recession, offering an optimistic outlook for the economy after last week›s steep drop in the financial markets and saying, «I don›t think we›re having a recession.» A strong economy is key to the Republican president›s 2020 reelection prospects.
The economists have previously expressed concern that Trump’s tariffs and higher budget deficits could eventually dampen the economy.
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