CNN's Scott Jennings admits that president Donald Trump made a huge gamble with the U.S. economy, and he conceded there'll be no one else to blame if things don't work out.
The president carried through on his campaign promise to enact sweeping tariffs on imports from nearly 100 countries worldwide, which has sent stocks into a tailspin, and the conservative commentator said he trusts Trump on the issue for now.
"Well, he firmly believes in this and he believes that [things are going well]," Jennings said, "and I heard him say on the plane last night, you know, countries are already calling to talk about what they can do with the United States. He firmly believes in it, and he firmly believes in making this bet. I mean, he's betting his presidency on this issue, which is probably the most closely and longest-held political and economic belief that he's ever had."
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"It's a good bet," he added. "We'll find out if it's right, it will be the ballsiest thing that ever happened, and if it's wrong, the consequences will fall on one shoulder."
Jennings urged patience, saying that any economic pain would likely be short term.
"I think the tariffs are just one part of his economic plan," Jennings said. "You know, obviously this reconciliation bill making the tax cuts permanent, what they plan to do with energy and some other policies, I think he sees it as all working together on the tariffs, though, you know, their view is this isn't for short-term gain. It's a long-term restructuring of the way our economy works, and I think they would say it's like planting an apple tree. You don't expect to get apples tomorrow, but in the long run, if you take care of the tree and you let it grow, the apples will come from the tree. That's what they believe.."
"The political consequences, though that is a question," he added. "Will they permit it? Because over the short and medium term, if people don't like the instant reaction, will they go away from it? He's counseling, 'Stick with me,' and I mean that. That's the job, the sales job he has to do with the American public is 'stay with me here, it will work.'"
However, he couldn't deny that the early returns were poor, and the segment ended with him ducking underneath a desk to hide from a stock ticker that showed another market slump that was placed on screen over his chest.
"You purposely put it right here – why don't you put it by Megan," he said, referring to fellow panelist Meghan Hays. "Can we just shove it to the other side of the screen? I don't understand, I feel like you did this on purpose."
The graphic continued to appear on his side of the screen even after the show's director switched to another camera, and Jennings ducked underneath the desk.
"Let me just get down here," he joked.
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