Trump acknowledged that he could cause recession but just didn’t want depression, WSJ reports

President Donald Trump wanted to avoid sending the economy to depression through his controversial tariff plan, The Wall Street Journal reports.

Trump privately said he knows his wide and steeply on the fees presented last week Report on Wednesday evening From the paper, referring to people familiar with the conversations.

Trump also told advisers that he was ready to accept the “pain” over politics, a man who talked to him on Monday said in the magazine.

Economists are considered depression when the recession becomes more serious and entails greater unemployment and a longer decline. The United States avoided them after the Great Depression in the 1930s -when unemployment has reached 25% -from the progress in monetary policy and financial policy, as well as programs such as FDIC deposits insurance.

While many economists began to predict the recession from Trump’s high tariffs that paralyze global trade, no one said it would lead to depression.

Bond gives a rise, while the shares held on days before Trump said he would give up some retaliation on Wednesday. Its turn provided a sharp return on the stock market, with S&P 500 Wednesday is recorded by it The best day since 2008.

Kevin Hassett, Director of the US National Economic Council, said on Thursday CNBC that the decline in the bonds contributed to Trump’s decision. A 10-year Treasury Yield on Tuesday night on Wednesday exceeded 4.5% when assumed that a large foreign owner, like Japan or China, dumped bonds. Bond prices move the opposite to the exit.

“Everything was moving forward in order,” Hassett said at CNBC “Box for Squawk. But it will happen. “

Trump also acknowledged the role of investors’ problems during the comments on Wednesday.

“I thought people jumped out a little out of the line,” Trump said. “They were getting a little iP, they were a little afraid.”

The White House did not immediately respond to the CNBC request for a comment on Trump’s concerns about depression.

Trump’s change drivers have become the rise of the role of Minister Scott Baette in trade policy counseling, according to WSJ, which referred to people close to the situation. The number of countries negotiating with the White House has also made Trump an open switch, the man who talked to the president said in the magazine.

Read the full Wall Street Journal report here.