President Trump: U.S. May Be Heading Into a Recession
President Donald Trump says the United States “may be” headed toward a recession as the economy continues to be battered amid the coronavirus outbreak.
Trump spoke to reporters Monday at a White House briefing as cases in the U.S. continue to spike.
The Dow Jones Industrial Average closed down by almost 3,000 points today.
The president says his administration’s focus is on stemming the virus. Once the spread of the virus is stopped, Trump said he believes the U.S. economy will see a “tremendous, tremendous surge.” The Dow Jones Industrial Average was down more than 11% Monday afternoon.
The president also is pledging federal support for airlines struggling because of the pandemic, saying he’s “going to back the airlines 100%.”
Trump also says governors that need ventilators, respirators, masks and other equipment for medical professionals should first try to acquire the items on their own before turning to the federal government for help.
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