“Morning Joe” hosts Mika Brzezinski and Joe Scarborough turned their attention Monday morning to the growing concerns both within the Wall Street community and throughout America about a potential recession during President Donald Trump’s second administration.
Holding up Monday’s edition of the Wall Street Journal, Scarborough discussed how America’s financial sector is starting to prepare en masse for major economic setbacks as it faces the “threat of trade restrictions and a slowing economy.” Building off Scarborough’s comments, Brzezinski said, “[Trump] isn’t ruling out the possibility that the United States could head into a recession this year, as his economic policies cause uncertainty on Wall Street.”
She then introduced a clip of Trump’s Sunday interview with Fox News’ Maria Bartiromo, in which the president indirectly answered Bartiromo’s question about a recession this year, saying, “I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing.”
You can watch the full “Morning Joe” segment in the video below.
“This is something that we’ve all been talking about since the election — that we have a strong economy. It’s the envy of the world, but we have to be careful and, specifically, that the incoming administration has to be careful with talk of tariffs and instability,” Scarborough noted. “You just look at the numbers [now] and you see how stocks have been going up and down and how erratically things are going.” Washington Post columnist and “Morning Joe” panelist David Ignatius then offered some additional insight into the current Wall Street trends.
“We’ve had a frantic six weeks, big changes announced every day. I think Wall Street’s beginning to wonder just where this leads,” Ignatius explained. “The tariff wars, in particular, seem to many investors that I talked to to be potentially counterproductive, inflationary.”
Ignatius did, however, agree with Trump’s comments about America’s tendency to think “quarter-to-quarter” rather than long-term.
“[That’s] something I’ve heard from corporate CEOs for years, and I think he’s right about that. I mean, that’s not to endorse the policies,” Ignatius added. “But we do tend to get so caught up in these short-term movements that we forget about what would be good for the long run in the country. But, in any event, Wall Street’s got the jitters today.”
Commenting on Trump’s plan to try to bring manufacturing back to U.S. shores and create a less global, more stateside-run economy, Scarborough warned that Americans may, indeed, be in for some economic pains.
“This is a transition. If you’re going to bring all of these jobs back onshore, it took 30-40 years of globalization to spread it out,” the “Morning Joe” host observed. “It’s going to take more than a year or two to bring it back, and there are going to be costs.”
Watch the full “Morning Joe” segment in the video above.
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