‘I Guarantee No Recession’: Peter Navarro Tries To Reassure Fox News Viewers Amid Tariff Turmoil

White House senior counselor for trade Peter Navarro guaranteed Fox News viewers on Monday that there would be “no recession” as a result of President Donald Trump’s trade wars, amid growing concerns.

After Fox News host Laura Ingraham asked Navarro, “When do you think the market might turn around?” he replied:

It’s finding a bottom now. It’s finding a bottom now, but look, here’s the thing, it’s going to shift over and it’s going to be companies in the S&P 500 who are the first to produce here. Those are the ones going to lead to recovery, and it’s going to happen. Dow 50,000, I guarantee that, and I guarantee no recession. Okay? Why? Because, when we pass the biggest, broadest tax cut in history within a matter of months, that’s going to be a great stimulus. There’s not going to be any inflation. We’ve already had a significant drop, a huge drop in oil prices, Laura. That’s like a point off the CPI. We’re gonna have lower yields and mortgage.

“Alright Peter, great to see you, and we will be following Dow 50,000,” concluded Ingraham. “You heard it on The Ingraham Angle.”

The stock market nosedived last week after Trump announced new tariffs against dozens of countries and territories, including uninhabited islands.

The market continued to drop over the weekend – prompting one reporter to ask Trump whether he was “crashing the markets on purpose” – as the president urged Americans to be patient and stop panicking.

“The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!),” he wrote. “Be Strong, Courageous, and Patient, and GREATNESS will be the result!”

Last week, Sen. Rand Paul (R-KY) was accused of disloyalty by Trump after he warned that the tariffs could result in a “political decimation” for the Republican Party.

Watch above via Fox News.