White House economic adviser Larry Kudlow has played down the recent drop on Wall Street as a normal correction.
He told Fox News on Sunday that he thinks the "background" is very positive for the stock market and that people should stay calm.
Kudlow also said President Trump respects the Federal Reserve's autonomy despite last week's remarks that the Fed had "gone crazy" raising interest rates.
Meanwhile, Kudlow said a meeting between Trump and Chinese President Xi Jinping will likely take place at Argentina's G20 summit next month.