Press Secretary Leavitt highlights series of Trump economic wins Wednesday as recession risks rise

Wednesday brought a series of positive economic updates to the United States, as highlighted by Karoline Leavitt, Assistant to President Donald Trump and White House Press Secretary. In a social media post, Leavitt celebrated the lowest core inflation rate the country has seen in four years, alongside a decrease in mortgage rates to the lowest point since December. Additionally, consumers are experiencing a reprieve with reductions in both airline fares and gas prices.

In a significant development for the manufacturing sector, GE Aerospace announced a substantial investment of $1 billion in U.S. manufacturing. This move is expected to bolster the domestic production capacity and create new jobs within the industry. The investment by GE Aerospace underscores a commitment to expanding its operations and enhancing its presence in the U.S. market.

The good news extended to the job market in Wisconsin, where the Japanese beer maker Asahi revealed plans for new investments and job creation. This investment by Asahi is set to contribute to the state’s economy and employment landscape, providing new opportunities for the local workforce.

The announcements of lowered costs and increased investments come as a welcome sign for the U.S. economy, which has faced challenges such as inflation and concerns over job growth.

While the recent wins are impressive, the stock market declines over the past few weeks on tariff uncertainty cannot be overlooked and many economists are now raising the chances that the U.S. goes into a recession this year.

Earlier today, JP Morgan chief global economist, Bruce Kasman, said the probability of a U.S. recession taking place this year stands at around 40%, up from his prior prediction of 30%. Further, he warned that the risk to climb even higher, potentially exceeding 50%, if the reciprocal tariffs Trump has threatened to impose from April were to come into force effectively.

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