"Reality check: At the end of July Lutnick posted to X that "the Trump Economy has officially arrived," citing a strong GDP report. Since then, a combination of weak jobs data and hot inflation reports has painted a very different picture of an economy struggling to grow. Just Thursday, the Consumer Price Index showed inflation rising for a fourth consecutive month, while initial jobless claims were the highest in years."
""You can't build factories and get permits and begin in an hour. You just can't. And the scale by which these companies are committed to building factories in America is unprecedented," Lutnick said."
""So the jobs are coming, the factories are coming, we know the cavalry is coming. You know it can hear the thunder of the hooves coming.""
The economy that Donald Trump 'owns' is forecast to begin at the end of the year, anchored by planned factory construction and rapid job gains. Companies are committing to build factories in America on an unprecedented scale, a process that requires time for permits and construction. A strong GDP report at the end of July prompted claims of a new 'Trump Economy,' but subsequent weak jobs data and rising inflation have complicated that picture. The Consumer Price Index rose for a fourth consecutive month and initial jobless claims climbed to multi-year highs. Forecasts include record construction employment by Q1 next year and GDP topping 4%, but slowing or negative growth would challenge those expectations.
Read at Axios
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