• Home
  • News
  • Fortune 500
  • Tech
  • Finance
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsU.S. Politics

Trump Says the Economy Is Doing Great, But These Economists Fear a Recession by 2021

By
Natasha Bach
Natasha Bach
Down Arrow Button Icon
By
Natasha Bach
Natasha Bach
Down Arrow Button Icon
August 19, 2019, 2:06 PM ET

President Donald Trump and some of the country’s leading economists are at odds over whether another recession is imminent.

Trump remains confident that no recession is forthcoming. Despite a sharp drop in the markets last week, Trump said as recently as Sunday, “I don’t think we’re having a recession.”

The President appeared to be echoing this message in a number of tweets he shared on Sunday and Monday. After calling the U.S. economy “the best in the world,” Trump wrote that the country is “poised for big growth.” In another tweet, he argued that the economy is “very strong, despite the horrendous lack of vision by Jay Powell and the Fed.” Trump went on to claim that the Democrats are “trying to ‘will’ the Economy to be bad for purposes of the 2020 Election.” 

A report from the National Association for Business Economics (NABE), on the other hand, paints a different picture. The report, which was released Monday, found that 74% of those surveyed believe that Trump’s economics policies could yield a recession in the U.S. by the end of 2021.

Thirty-four percent said they believe that the recession will come by 2021, up from 25% in the February survey. Thirty-eight percent, meanwhile, believe that that recession could come as soon as next year, marking a slight decrease from the 42% who predicted as much earlier this year. Just 2% of those polled think a recession could come before the end of the year. 

Most NABE economists expect the next #recession by end of 2021, according to the NABE August 2019 Economic Policy Survey. Read the full report at https://t.co/69FnMq6U2z and sign up to hear more about the results on today's teleconference at 3 PM Eastern: https://t.co/fh2WgsyBQ8pic.twitter.com/bpojiMDizY

— NABE (@nabe_econ) August 19, 2019

The NABE polled 226 respondents between July 14 and August 1—just before the Trump administration announced it would be imposing additional tariffs on Chinese imports. The respondents had previously expressed concern that Trump’s tariffs could have a negative effect on the economy.

More must-read stories from Fortune:

—When will Twitter ban white nationalists? Civil rights leaders urge action
—Several states suing Trump’s EPA over new ‘dirty power’ rule
—Why the U.S. labeled China a currency manipulator
—How Trump’s plan to import Canadian drugs would work
—Listen to our audio briefing, Fortune 500 Daily
Get up to speed on your morning commute with Fortune’s CEO Daily newsletter.


About the Author
By Natasha Bach
See full bioRight Arrow Button Icon
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.