The White House defended the state of the economy on Tuesday, saying the U.S. is in a “period of transition” — a far cry from the promises President Donald Trump made on the campaign trail that he would bring down inflation and make America affordable again on “day one.”
“We are in a period of transition from the mess that was created under Joe Biden in the previous administration,” press secretary Karoline Leavitt told reporters during a briefing. “Joe Biden left this country in an economic disaster.”
Over the weekend, Trump declined to rule out the possibility of a recession on the horizon, sending fears through the global market. Now his administration is faced with an early test after a steep stock market sell-off on Monday.