"Consumers, voters, are very angry about inflation. They don't like it. I think that explains a lot of the 2024 election results and the 2025 campaigns as wellInflation by some measures ticking down a little, but still stubbornly near that 3% area, roughly where it was when President Trump took office. So, I think that's a disappointment for consumers. I think the answer to that is productivity and growth, and the Federal Reserve restraining the growth of the money supply."
"I know the president wants lower interest rates. He might want to rethink that and urge them to focus on perhaps even higher rates. Freeman continued: This is a very good economy..I think I would disagree with [Trump] this is because of the tariffs I think it's probably in spite of them. But, there's no question about it, this is the underreported story of the year. We've had a lot of seemingly negative economic news."
Consumer spending remains strong even as consumer confidence has slumped due to persistent inflation. Inflation remains stubbornly near 3 percent, disappointing consumers who want lower prices. Productivity gains, higher growth, and Federal Reserve restraint on the money supply are presented as remedies, with a suggestion to consider higher interest rates. GDP accelerated with 3.8 percent growth in the second quarter and a 4.3 percent third-quarter result, while the Fed projects roughly 3 percent for the fourth. Job growth and corporate earnings are steady and strong, and tariffs appear unlikely to explain the recovery. The combination of robust GDP, steady employment, and earnings creates an underreported positive economic picture.
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