Trump says US in transition period, downplays impact of short-term recession

WASHINGTON (Reuters) -President Donald Trump said on Friday the U.S. was in a "transition period" and was going to do "fantastically" while downplaying the impact any short-term recession may have. What we are — I said, this is a transition period. Trump's comment on the U.S. economy being in a transition period echoed comments he made earlier on Friday in a social media post, in which he also cited strong employment and reiterated his call for the U.S. Federal Reserve to lower interest rates.