It’s often taken for granted that, whatever else you might say about President Donald Trump, he has at least been good for the U.S. economy. That, many argue, is the fact that may lead to his re-election in 2020.
Except this uncritically accepted pearl of conventional wisdom is quite dubious, as many experts in economics would tell you.
One of those experts, Trump-appointed Fed Chair Jerome Powell, even announced a cut to interest rates this week in light of weak business investment in the economy and the uncertainty caused by the president’s trade wars.
Another expert is economist Paul Krugman, who wrote in a new piece for the New York Times Thursday: “Obviously Powell couldn’t say in so many words that Trumponomics has been a big flop, but that was the subtext of his remarks. And Trump’s frantic efforts to bully the Fed into bigger cuts are an implicit admission of the same thing.”
View the complete August 2 article by Cody Fenwick on the AlterNet website here.