Trump reverses course, says he's not considering tax cuts because of 'strong economy'

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Trump reverses course, says he's not considering tax cuts because of 'strong economy'
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'I'm not looking at a tax cut now,' Trump said after days of confusion over whether and how the White House would respond to recession fears.

Only Tuesday, Trump said he was "thinking about" indexing capital gains to inflation — a move generally expected to reduce the tax burden on wealthy people. But he added he was "not talking about doing anything at this moment.""It's probably better for the high-income people, and I'm not looking to do that. I want to do for the workers," the president said.

The comments Wednesday show a president fixated on maintaining the strength of the U.S. economy, while eager to push the blame for any potential downturn to others. He hammered Fed Chairman Jerome Powell several times Wednesday for hiking interest rates in 2017 and 2018,He also made the unfounded claim that media outlets are "trying to convince the public to have a recession."

Trump lamented that his predecessor President Barack Obama oversaw the economy when the Fed had set near-zero interest rates — an emergency response during the recovery from the 2008 financial crisis.

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