US economy: beneath the bombast – Michael Roberts Blog
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US economy: beneath the bombast – Michael Roberts Blog
Trump said that the US economy was growing “phenomenally’ at over 4% a year in real terms and the forecast for the next quarter was even higher at over 5% a year. Inflation was falling fast, allowing the Federal Reserve to cut its policy interest rate, which it should have done but for the reluctance of that ‘dumbo’ Fed chair Jay Powell, whom Trump was keen to say would be replaced very soon. Under his presidency, he had reduced the bureaucracy of the federal government, getting rid of 270,000 federal jobs. The Federal fiscal deficit was coming down fast. And above all, he had stopped the influx of ‘illegal’ immigration that rocketed under Biden. Now the US was ‘enjoying’ net emigration.
https://thenextrecession.wordpress.com/2026/01/25/us-economy-beneath-the-bombast/
#US #tarrifs #AI #immigration #Trump #Economy
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