'Could get ugly': Fox reporter spills 'breaking' news on Trump 'risking financial crisis'
A veteran Donald Trump reporter says the president is willing to risk financial crisis in order to enact his biggest agenda items.
FOX Biz senior correspondent Charles Gasparino, who reports on Trump often and earned the ire of MAGA when he recently reported that conservatives were wrong to suggest Trump outsmarted the world with tariffs, took to social media to issue a breaking alert.
"BREAKING: The unanswered question about the Trump trade-tariff plan is why--why did he do it first? Why didn't he wait until the economy is running at 3 per GDP; or DOGE began chipping away at the deficit? Why did he do something so unsettling so fast, risking a financial crisis, if he doesnt thread the needle just right?" he asked. "The MSM spin, the rationale from the Wall Street elite is that Trump doesn't know what he's doing, and is being both pressured and suckered by ideologues in the White House who think they can recreate a manufacturing economy circa 1960. I'm telling you that common theme is false."
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He continued, noting that he has "covered Trump for decades."
"He's tough and smart. He has an acute understanding of the state of the economy. What is true: Trump is an ardent believer that the trade system is imbalanced, and he's got pretty good numbers to prove it. And it begins with China, which was given a free pass to dump goods on the world at low prices, manipulate its currency in the process, join trade organizations to enforce its mercantilism at the expense of the Industrial Midwest, which became deindustrialized, and now is in a deep state of decay, mired in near poverty and an opioid epidemic," Gasparino added. "The reality," he said, is that "most of the jobs that replaced factories, quite simply, sucked. They depressed standards of living in these towns."
The correspondent then spilled what his sources have been saying.
"Working at an Amazon warehouse isn't like working for a steel mill or a car assembly line with benefits etc. Trump knows this and that's why, based on what I'm hearing, he will likely press on even if it risks a financial crisis of some magnitude, which is a very real possibility," he reported. "Already PE panic selling is taking place. Bonds are wobbly, stocks are going sidesways and down. A recession is pretty much being baked in as business recoil from the uncertainty. Adding to that uncertainty: [Many] top investors believe Treasury Secty Bessent wants to induce a recession to get interest rates down."
In his conclusion, the reporter further chimed in, "Yes I keep thinking this could get ugly or maybe I've just seen too many financial crisis in my career."