Trump predicts 'spectacular' rebound as economy plunges

WASHINGTON (AP) — Trying to dispel economic gloom, President Donald Trump said Thursday he’s anticipating a major rebound in the coming months and a “spectacular” 2021.

While economists are warning of serious long-term damage as the country plunges into recession because of the coronavirus, Trump is predicting a strong fourth quarter thanks to pent-up demand.

“I think we can actually surpass where we were,” Trump told reporters in the Oval Office, while allowing he was relying on his gut.

“I feel it,” he said. "I think sometimes what I feel is better than what I think, unfortunately or fortunately.”

Trump's comments came during a meeting with New Jersey Gov. Phil Murphy, a Democrats, who exchanged praise with Trump, despite past criticism. Trump said Murphy had “stepped up to the plate,” while Murphy said Trump has delivered in his state's darkest hour.

“We've been crushed and appreciate your consideration on the financial side as well," Murphy said, while telling Trump his state needs $20 billion to $30 billion just to keep firefighters, teachers, police officers and others on the job.

The comments are the latest sign that Trump is trying to turn the page on the virus, even as the nation's death toll continues to climb and jobless claims rise. Trump had been hoping to ride a strong economy into another four-year term, but the virus and the economic damage it has wrought upended that strategy.

But economists have waned a sharp comeback may not be realistic. They point to expected flare-ups that could force reopened businesses to shut down again, concerns that employees and consumers afraid of contracting the virus could continue to stay home, and the fact that shuttered business may not open again. With so much of the economy paralyzed, the...