Wall Street Journal warns there could be a coming 'Trump recession'
The editorial board of the Wall Street Journal is predicting that a full blown economic recession could be coming after a rough day for investors on Monday.
"Stock prices have been richly valued for some time, and this may be merely a market correction. But there are also signs of a slowing economy that should have the Trump Administration on alert," the Journal wrote in an editorial published on Monday evening.
President Trump, the newspaper wrote "didn't help the mood" with comments on cable news over the weekend in which he did not rule out the possibility of a slowing economy, saying “there is a period of transition, because what we’re doing is very big.”
"Mr. Trump was right to note that a President shouldn’t be preoccupied with short-term investor reactions to economic policies that will boost long-term growth. But there are flashing signs that the U.S. economy is slowing," the Journal wrote.
The Rupert Murdoch-owned newspaper cited recent jobs reports, Trumps ongoing trade disputes with Canada and Mexico, and other factors as cause for widespread economic concern and market volatility.
"Mr. Trump’s deregulation and an extension of the 2017 tax reform should buoy business investment over the long term," the Journal concluded. "But the higher costs and uncertainty caused by his tariffs are hurting the economy now. If Mr. Trump wants to quiet recession alarm, he would be wise to put his tariff plans on the shelf."
The Journal has been sharply critical of Trump's economic policies, cabinet selections and presidential executive orders during his first two months in office.
The president has railed against the Journal and criticized Murdoch directly over the Journal's Op-Ed pages.
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