"Let's be clear, there is no recession on the horizon," said Fox Business host Stuart Varney in the latest episode of Fox Nation's "My Take."
"In fact, the economy shows every sign of picking up some steam next year. Of course, there could be some kind of totally unforeseen disaster that brings us down, but other than that, no recession. And you know what that means. The president goes into the election with an unemployment rate close to historic lows. No president since World War II has failed to be reelected when the jobless rate has come way, way down."
Many in the media warned of a possible economic downturn under President Trump earlier this year, before Trump dismissed concerns tweeting about his confidence in the U.S. economy at the time.
"We have had 120 stock market record highs, 10,000 points up of the Dow Jones Industrial Average, [a] new trade deal with China, talk of a new trade deal with the British... Add it all up and you still got economic growth, super-low unemployment, and absolutely no recession," said Varney on “Fox & Friends” Tuesday morning.
"This is not what the Trump-hating media really wanted," Varney said. "Oh, no. Just a few months ago, we were assured that a recession was just around the corner. They wanted a recession. They insisted Trump and his tariffs would kill the economy."
"They wanted a recession," he continued. "They must be disappointed. As we head into the next year, the economy, the market and President Trump are all showing resilience. Big investment firms look towards further economic growth. The president has negotiated new trade deals around the world and the stock market just keeps hitting records."
"Extraordinary, isn't it?" concluded Varney. "The president is about to be impeached, yet prosperity rules. No wonder the media has gone quiet on the economy. We're not going to get the recession that they really were hoping for."
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Fox News' Talia Kaplan contributed to this report.
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