President Donald Trump’s economic policies have been met with lukewarm reception, as recent financial numbers show job gains dwindling and inflation on the rise. Despite his claims of an “economic golden age,” the latest data paints a more nuanced picture.
The impact of Trump’s tariff hikes and tax and spending bill is becoming apparent, remolding America’s trading, manufacturing, energy, and tax systems. However, growth has slowed compared to last year, with job losses in key sectors like manufacturing.
Experts warn that stronger growth may be months away, and the effects of Trump’s new tariffs are still several months from rippling through the economy. The full inflationary impact is unlikely to be felt until 2026, which coincides with the next presidential election.
Only 38% of adults approve of Trump’s handling of the economy, according to a recent poll. Despite this, the White House remains optimistic about the state of the economy, touting the benefits of deregulation and fair trade policies.
Critics argue that the economic gamble being undertaken by Trump could unleash more inflation, particularly if interest rates are cut. The Federal Reserve has taken aim at Trump’s policies, with some Fed governors backing rate cuts to boost homebuying activity.
Trump’s ability to blame his predecessor, Joe Biden, for any economic challenges has faded as the world economy hangs on his every word and social media post. As the stakes rise, it remains to be seen whether Trump’s economic policies will deliver middle-class prosperity or lead to more disruption.
Source: https://apnews.com/article/trump-economy-warning-signs-financial-numbers-6f9754dbb6b21c9ef5c557b1ebfe6ce9