As job market slumps, Trump administration says it could take a year to see better economic data

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WASHINGTON, Sept 5 (Reuters) - The White House said it expects the Federal Reserve to weigh larger rate cuts this month after Friday's "disappointing" jobs report, while President Donald Trump and his administration said it could be a year before the U.S. sees rosier economic data.

www.reuters.com

As job market slumps, Trump administration says it could take a year to see better economic data

The White House said it expects the Federal Reserve to weigh larger rate cuts this month after Friday's "disappointing" jobs report, while President Donald Trump and his administration said it could be a year before the U.S. sees rosier economic data.
www.reuters.com www.reuters.com
 
domer76 said:
And they were all over Biden for a few months of inflation, when Trump’s COVID bailout money was a major contributor.
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Except it wasn't just a few months of inflation. There were multiple causes for inflation but the reality in the United States is President's get more credit, and more blame, than they deserve. So yes, many voters blamed Biden because he was President.

Biden did contribute to it though by passing the 2021 stimulus. People like Larry Summers said it would ignite inflation. But the Biden Administration was fighting the last war. Following the GFC they felt Obama didn't do a big enough stimulus, and they weren't going to fall victim to that this time. The problem was, it wasn't a lack of liquidity that was the issue in 2021.
 
cawacko said:
Except it wasn't just a few months of inflation. There were multiple causes for inflation but the reality in the United States is President's get more credit, and more blame, than they deserve. So yes, many voters blamed Biden because he was President.

Biden did contribute to it though by passing the 2021 stimulus. People like Larry Summers said it would ignite inflation. But the Biden Administration was fighting the last war. Following the GFC they felt Obama didn't do a big enough stimulus, and they weren't going to fall victim to that this time. The problem was, it wasn't a lack of liquidity that was the issue in 2021.
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There were 3 stimulus checks issued. Two of those, and over 50% of the total, were issued under Trump.

That, and the misguided enhanced unemployment bullshit put a lot of money in circulation. Not the sole cause of that inflation, but a major contributor.
 
domer76 said:
There were 3 stimulus checks issued. Two of those, and over 50% of the total, were issued under Trump.

That, and the misguided enhanced unemployment bullshit put a lot of money in circulation. Not the sole cause of that inflation, but a major contributor.
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You won't get an argument from me that the late 2020 stimulus wasn't needed. By 2021 though, the first two rounds were already in place. People like Larry Summers warned what the likely result would be of a third. I explained why the administration still pushed it, and the result was putting fuel on the fire.
 
cawacko said:
You won't get an argument from me that the late 2020 stimulus wasn't needed. By 2021 though, the first two rounds were already in place. People like Larry Summers warned what the likely result would be of a third. I explained why the administration still pushed it, and the result was putting fuel on the fire.
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Agreed
 
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