Trump claims credit for “good” economy, blames Biden for “bad” amid mixed signals

Donald Trump, the President of the United States of America, has asserted that his policies are responsible for the positive aspects of the current US economy, while attributing any negative trends to his predecessor, Joe Biden, whom he described as having “done a terrible job.”

“Ultimately, I take responsibility for everything,” the president said during an interview on NBC’s “Meet the Press” talk show on Sunday. “But I’ve only just been here for a little more than three months.”

Amidst mixed economic signals and growing concerns surrounding his aggressive use of tariffs, Trump stated that “certain aspects” of the economy reflect his influence. “I was able to get down the costs,” he claimed. “I think the good parts are the Trump economy and the bad parts are the Biden economy because he’s done a terrible job.”

Despite surveys indicating increasing public anxiety about the economy, the majority of official indicators are not yet showing signs of distress. Unemployment stood at a moderate 4.2 percent last month, and March’s inflation rate was 2.3 percent, slightly above the Federal Reserve’s target.

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However, Federal Reserve officials and other experts have revised their forecasts for the world’s leading economy, citing slowing growth, rising inflation, and unemployment. When questioned about the possibility of a US recession, Trump acknowledged that “anything can happen.” He added, “This is a transition period,” and expressed optimism that ultimately “we’re going to do fantastically” with “the greatest economic boom in history.”

Regarding the significantly disrupted trade relationship with China, following Trump’s imposition of tariffs of 145 percent, he stated, “We’ve essentially cut off trade relationships by putting that much of a tariff on.” Trump suggested that the Chinese “want to make a deal very badly,” and he anticipated eventually reducing the tariff rate.

The president has been a vocal and consistent critic of Federal Reserve chair Jerome Powell, whom he appointed in 2018 during his first term. In the interview, he reiterated his view that “he should lower interest rates,” stating that now is the “perfect time” to do so.

Federal Reserve governors are scheduled to meet on Tuesday and Wednesday, where they are expected to maintain the current pause in rate cuts while assessing the impact of tariffs on the economy. Most analysts anticipate that the Fed will keep rates within the 4.25 to 4.50 percent range, where they have been since December.

The president also clarified his position on Powell’s tenure. While he had previously floated the possibility of dismissing the Fed chair, a role intended to be largely independent from political influence, he told NBC that he now expects to wait until Powell’s term concludes in May 2026 before naming a successor.

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