""We are poised for an economic boom the likes of which the world has never seen.""
"Concerns about affordability have refused to abate: the latest weekly poll by YouGov/ The Economist indicates that Americans still consider "inflation/prices" to be the most important policy issue, and just a third of them approve of how Trump is handling it. Meanwhile, it looks like G.D.P. growth for 2025 will come in at about two per cent-one percentage point lower than it was in the last two years of the Biden Administration-and the unemployment rate is ticking up. When Joe Biden left office, it was four per cent; now it is 4.6 per cent."
""Fiscal policy is going to be supportive. And, as I mentioned, A.I. spending will continue," Powell said at a press conference earlier this month. "The consumer continues to spend. So, it looks like the baseline will be solid growth next year.""
Presidential rhetoric has raised expectations of a dramatic economic boom, but current indicators show mixed performance. Affordability and inflation remain the top voter concerns, with only about a third approving the president's handling of prices. G.D.P. growth for 2025 is projected near 2 percent, below recent years, and unemployment has risen from 4.0 percent to 4.6 percent. Federal Reserve officials and many Wall Street economists have increased near-term growth forecasts, citing supportive fiscal policy, continued A.I. spending, and resilient consumer demand. Forecasts such as Goldman Sachs' 2.6 percent 2026 estimate reflect this uplift, though political volatility could still change outcomes.
Read at The New Yorker
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