Jared Bernstein, the chief White House economist in the Biden administration, said he would advise President Trump to “declare victory” in the trade war and let the economy recover from the period of uncertainty. “My advice to the president would be to go out there and declare vict ory — because that's what he does,” Bernstein said on “CNN News Central,” when asked what his advice would be for Trump at this moment. Bernstein urged Trump to say, “I won the trade war. It's over.” If he does that, Bernstein continued, “Markets will recover. A lot of uncertainty would dissipate, and that would be a positive for the economy. I'd probably see some recession probabilities start to come down.” As of now, however, Bernstein said he agrees with economists who see the chances of a recession growing. "I think every economist I've spoken to basically, who isn't paid to believe otherwise, believes that," Bernstein said. Bernstein said those predictions are “intimately related” to the inconsistent messaging and uncertainty over the administration’s policies on trade. He said he talked to people who say they planned on building a new warehouse to expand but “now I’m sitting on my hands.” Bernstein said he thinks the markets can recover if Trump declares victory, but he warned that “some real long-term damage has been done” in the bond market. “America's safe-haven status for global investors — that this is the safest, most risk-free place to invest — America's reputation as a reliable trading partner, those have been damaged, and that's not going to be corrected,” Bernstein said. Bernstein said “the uncertainty” and “contradictions” coming from the White House “won’t be easy to fix.” “I'm afraid that they've done years of damage in less than three months in that regard,” Bernstein added. ...read more read less