Trump is not good for the economy! Already there are signs that the economy will fare worse than expected under Trump. His proposed tariffs and fear of retaliatory tariffs as well as ensuing uncertainty is weighing on our economy and markets.
“A string of weaker-than-expected data has economists’ projections for first quarter economic growth sliding.” —Yahoo! Finance
- Consumer spending fell in January for the first time in nearly two years (-0.2% vs an expected +0.1%, and followed +0.8% in December)
- Construction spending was lower than expected in January (-0.2% followed +0.5% in December).
- Retail sales saw the largest monthly decline in a year (-0.9% vs an expected +0.2%, and followed +0.7% in December).
- The Atlanta Federal Reserve slashed its GDP estimate for 1Q 2025 to show the economy contracting at a 1.5% annualized rate from a 2.3% growth pace earlier.
- Unemployment rate in February unexpectedly ticked up to 4.1%.
Message: Biden left a strong economy for Trump and in less than two months in office he is already tanking it with his policy choices.
Sources: Yahoo! Finance, Reuters, Steve Rattner
