White House Economic Council Director Kevin Hassett believes the United States will not face an economic recession in 2025, affirming Washington's full confidence in the strength of the American economy during this year.
In an interview with Fox Business Channel, when asked whether the United States would experience an economic recession in 2025, Hassett said, "No. I'm 100 percent confident of that."
He added that employment figures for US residents are "very strong" and that the increase in tariffs has "prompted people to buy more foreign goods."
For his part, American billionaire Ray Dalio, who predicted the 2008 financial crisis, warned of serious repercussions that could be worse than an economic recession if President Donald Trump's trade policies are not managed wisely, noting that the US economy stands at a critical crossroads.
He considered that "the combination of tariffs, mounting debt, and rising powers challenging the existing order could lead to extremely dangerous unrest."
In an attempt to avert disaster, Dalio called on the US Congress to reduce the budget deficit to 3% of GDP, warning that "neglecting this step could create a debt market crisis that would compound other problems, resulting in an economic catastrophe more severe than a traditional recession."
Former US Treasury Secretary Janet Yellen also criticized Trump's decision to impose tariffs on imports from most of the United States' trading partners, saying it was "the worst self-defeating policy I have seen in my career, and it is causing significant damage to the American economy."
On April 2, US President Donald Trump announced the imposition of tariffs on imports from 185 countries. On April 9, he announced a 90-day suspension of tariffs for 75 countries that had expressed a willingness to enter negotiations, subject to a 10% import duty.
Trump told Americans that difficult times lie ahead for the United States, but the end result will be historic.