Washington (CNN) President Donald Trump said he is "prepared for everything" but that "most economists" don't think a recession is on the horizon as growing fears of a slowdown persist.

"We are doing tremendously well," the President told reporters on a tarmac in New Jersey before boarding Air Force One to return to Washington. "Consumers are rich, tax cut loaded up with money. I saw Walmart numbers through the roof, better than any poll," he said.

The comments come amid concerns of a global economic slowdown that could potentially threaten Trump's 2020 reelection bid . The economy has been an important talking point for the President, who often invokes its growth as a way to boost his administration's popularity. Though the US economy, for now, remains on stable ground, five of the world's biggest economies are at risk of a recession, and a week of whiplash on Wall Street spiked fears the US economy could be dragged down too.

Trump conceded on Sunday that economies across the world are "not doing well like we are doing, the rest of the world, if you look at Germany, if you look at European Union, frankly, look at the UK, look at a lot of the countries, they are not doing well." Trump added that "most economists actually say we are not going to have a recession."

Trump said the US has options on how to handle a recession, but that it would happen only if he had no choice but to take on China.