The economy is under pressure on the 100th day of the Trump administration! Trump dismisses "transition period" rhetoric to downplay short-term recession impact.

President Trump said on Friday that the U.S. economy is in a "transition period" and will perform "very well" in the future, while downplaying the potential impact of a short-term recession. When asked if the U.S. would experience an economic recession in the short term, Trump said, "Listen, yeah, everything's fine. I've said before, this is a transition period. I think we're going to do very well." Trump's comments about the U.S. economy being in a transition period echo his earlier social media posts on Friday. In that tweet, he also mentioned strong employment numbers and reiterated his call for the Fed to cut interest rates. "We are just in the transition phase, just getting started!" he wrote in a post on Truth Social. The post came before data released in the U.S. showed a slight slowdown in job growth in April. Having just passed his first hundred days in office, Trump is facing growing public discontent in economic governance. Many economists predict that the widespread tariffs implemented in recent months will raise inflation and slow economic growth. Although Trump claimed in his post that the U.S. "has no inflation," and pointed out that inflation, gas prices, and mortgage rates are all declining, the latest data shows that the struggle against rising prices is ongoing, and prices are rising faster than the Fed's expectations. A Reuters/Ipsos poll showed that 42% of respondents approve of Trump's performance in office, a 5-point drop from after his inauguration on January 20. Preliminary GDP data released by the U.S. Department of Commerce on Wednesday showed the first quarterly decline in three years, as businesses rushed to import large quantities of goods before the implementation of Trump's tariff policy. However, some economists point out that strong consumer spending and private investment are signs that the economy may rebound soon. With inflation above target and a strong job market, most investors believe that the Fed will not cut interest rates in the near term. According to CME's FedWatch tool, the market sees nearly a 100% chance that the Fed will keep rates unchanged at next week's policy meeting. At the same time, investors believe there is a 34% chance that officials will cut rates by 25 basis points at the June meeting, down from 60% a month ago.