国际英语资讯:Trump considers multiple tax cuts as recession fear swirls_时事

国际英语资讯:Trump considers multiple tax cuts as recession fear swirls

Trump was later challenged by a reporter who asked if the country can afford further tax cuts, given that it is already running some 1 trillion dollars of deficit. Trump replied, "I'm not talking about doing anything at this moment."

The Trump administration will have to gain Congressional support to adopt both of the two measures, and analysts believe it would be difficult for the two tax reductions to pass in the Democrat-controlled House.

Economists have been expecting a recession in the U.S. economy to come as early as the next two years. The National Association of Business Economics said Monday that 98 percent of member economists responding to its latest Economic Policy Survey believe a recession will come after 2019.

Among these 226 respondents, 38 percent forecast the recession will come in 2020, and 34 percent expect it to happen in 2021.

Trump continued to deny that the United States is entering into a recession, saying the country is "very far from a recession."

The president said he thinks "the word recession is a word that's inappropriate," accusing "certain people and the media" of trying to build up the recession rhetoric "because they'd love to see a recession."

One of the signs pointing to a forthcoming recession is the recent yield curve inversion -- yields on longer-term U.S. Treasury bonds dipping below the yields on shorter-term bonds. On Aug. 14, yield on 10-year U.S. Treasury bond for the first time since 2007 dipped below the yield on the U.S. 2-year bond.