Navarro promises the market is finding the bottom – Washington Examiner
Peter Navarro, a senior counselor in the White House, stated in an interview with Laura Ingraham that he guarantees ther will be “no recession” due to the upcoming significant tax cuts and the anticipated recovery of the stock market.He suggested that the market is currently “finding a bottom” following a recent slump due to President Trump’s tariffs affecting nearly 200 countries. Navarro expressed optimism about the S&P 500 leading the recovery, and he predicted a surge in the Dow Jones Industrial Average to 50,000. Following his statements, there was a positive reaction in the stock market, with the S&P 500 and Dow both rising substantially. He also noted a decrease in oil prices,indicating that inflation rates may not be a concern. The Trump administration plans to enforce its tariff measures and is engaged in negotiations with countries like Japan and South Korea.
Navarro promises the market is finding the bottom: ‘I guarantee no recession’
White House senior counselor Peter Navarro said to Laura Ingraham on Monday evening that there would be “no recession” following the implementation of President Donald Trump’s tariffs.
Navarro told Ingraham that the market, which tanked last Thursday in response to Trump’s reciprocal tariffs enacted on nearly 200 countries, is “finding a bottom” and that the S&P 500 will “lead in the recovery.” Navarro had said that the Dow Jones Industrial Average would surge to 50,000.
“I guarantee no recession,” Navarro told Ingraham. “Because when we pass the biggest, broadest tax cut in history within a matter of months, that’s going to be a great stimulus. There’s not going to be any inflation. We’ve already had a significant drop, a huge drop in oil prices, Laura. That’s like a point off the [Consumer Price Index]. We’re gonna have lower yields and mortgage.”
On Tuesday, the stock market rallied, with the S&P 500 up 3.2% and the Dow rising 3%. Since Inauguration Day, the Dow has dropped over 4,000 points.
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The turnaround in the market comes as Trump begins trade negotiations with Japan and South Korea.
On Wednesday, the Trump administration will begin enforcing its reciprocal tariffs. The administration claims that approximately 50 countries have begun to engage with the United States in tariff negotiations.
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