Rooting for a recession is not grounded in reality

By Haley Gillman, Chris DaneThe FedFOXBusiness

Trump faces scrutiny over his 2020 budget proposal

FoxNews.com columnist Liz Peek, FBN’s Kristina Partsinevelos, Capitalist Pig Hedge Fund's Jonathan Hoenig and Kaltbaum Capital Management President Gary Kaltbaum on President Trump’s $4.75 trillion budget proposal.

During an appearance on CBS's "60 Minutes," Fed Chairman Jerome Powell said he has a positive outlook on the economy saying, "I see no reason why this economy can't continue to expand."

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CBS’ Scott Pelley pushed Powell on a number of issues, questioning whether a recession similar to the one that occurred in 2008 was a realistic possibility, to which he responded, “Our system is vastly more resilient.”

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Some viewers questioned whether Pelley was digging into getting some negative news out of Powell.

“Two to three months before the midterm elections the liberal media began to color everything dark,” Fox News columnist Liz Peek said on FOX Business’ “Bulls & Bears” Monday. “If we had a great boom in job additions then all of sudden interest rates we're going to go through the roof. If it was this steady drumbeat of negativity.”

But not everyone agreed with the notion that Pelley was working for a political agenda.

“There is a real chance of a recession,” Capitalist Pig Hedge Fund’s Jonathan Hoenig said. “I don't think it's inconsiderate to ask those questions. Even if you poll average every day economists the odds they cite of a recession have risen from about 7% to 25%.”

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With most people agreeing that President Trump's 2020 run will be tied to the strength of the U.S. economy, some speculate that if the economy tumbles so will the president's hopes for a second term.

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