WASHINGTON - US President Donald Trump declined to rule out the possibility of the US economy falling into a recession in an interview with Fox News broadcast on Sunday.

"I hate to predict things like that. There is a period of transition ... It takes a little time," Trump said when the anchor asked whether he expects a recession in the year ahead.

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In the interview, he also admitted a possible rise in inflation and downplayed the recent stock market volatility following his new tariff policy, saying, "You have to do what's right" even if markets do not like it.

Trump's words contradicted US Commerce Secretary Howard Lutnick's remarks on Sunday that no recession was in sight, and also reversed the president's previous statement that his policies would bring quick and remarkable results for the US economy.