Washington, April 15: U.S. President Donald Trump asserted that the American economy remains robust despite the ongoing conflict with Iran. He claimed that during this crisis, oil prices and the stock market have remained more stable than expected.
In an interview with Fox News at the White House, Trump highlighted the steady energy prices amidst rising tensions in the Gulf region. He expressed surprise that oil prices have stayed around $92 per barrel, noting that many anticipated prices could soar to $200 per barrel.
He expressed confidence that once the conflict concludes, prices will drop significantly. “Gasoline prices are set to decrease soon and relief will be felt across energy costs,” he stated.
The President acknowledged that there may be some short-term challenges, but he emphasized that the long-term impact on the economy would be minimal. He predicted that difficulties might persist for about six weeks, after which conditions would improve and the economy would stabilize.
Regarding the stock market, Trump noted that while there were fluctuations earlier this year, the market remains largely stable. He remarked that despite the challenging circumstances, the stock market is performing as well as it did two months ago, stating, “I think we are doing very well.”
He forecasted a rapid economic rebound following the end of the conflict, asserting that the stock market would surge quickly once it is resolved.
Trump linked economic performance to his broader foreign policy strategy, arguing that military action was necessary to prevent a larger crisis. He warned that allowing Iran to develop nuclear weapons would have far more severe economic consequences.
On domestic policy, he mentioned that tax changes implemented by his administration are providing relief to people facing rising inflation. “People are receiving refunds of $5,000, $8,000, and even $11,000, which they never expected,” he said.
He emphasized that energy costs are a crucial component of economic stability, driving nearly everything in the economy. Lower oil prices, he noted, are beneficial for the entire economic system.
This statement comes at a time when global markets remain sensitive to events in the Strait of Hormuz, a critical route for a significant portion of the world’s oil supply. Any disruption in this area directly impacts energy prices and inflation.
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