WASHINGTON, May 3, 2025 (BSS/AFP) - President Donald Trump insisted Friday that his policies will bring a boom in the US economy even as he acknowledged the possibility of a recession.

The US economy, the world's largest, unexpectedly contracted in the first three months of the year as Trump began his plans for sweeping tariffs.

"This is a transition period. I think we're going to do fantastically," Trump told NBC News show "Meet the Press with Kristen Welker."

Pressed on whether the United States could dip into recession, Trump said, "Anything can happen."

"But I think we're going to have the greatest economy in the history of our country. I think we're going have the greatest economic boom in history," Trump said in excerpts of the interview, which will be aired in full on Sunday.

Financial markets have been in tumult since Trump took office and moved to revamp the global economic order with a return to sweeping tariffs on imports.

Share prices rose on Friday, however, after a solid jobs report in the United States.