Thursday morning, Newsweek reported that economist Larry Kudlow, former director of the National Economic Council (NEC) during President Donald Trump's first term, spoke on his Fox Business show Kudlow, acknowledging “bad news for the economy ahead” as consumer prices and goods remain high.
There is bad news for the economy ahead, but that has nothing to do with Trump,” Kudlow said as he jumped to blame former President Joe Biden for “poor economic projections for February.”
On Tuesday, Newsweek reported the recent tariffs levied against Canada, Mexico and China, along with the ongoing bird flu epidemic, are likely behind a substantial portion of the rising costs among goods and products.
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“While Trump has claimed that tariffs will ensure that goods are made in America again, in the short-term they are projected to make goods significantly more expensive across the country,” Newsweek reports.
Elon Musk's Department of Government Efficiency's (DOGE) “cost-cutting measures and the mass-firing of federal employees are said to be contributing factors as to why the job market is predicted to be flat,” Newsweek added.
The Hill on Tuesday said an NPR/PBS News/Marist poll reported that “46 percent of Americans believe that Trump is changing the economy for the worse, while 42 percent of people think he's changing it for the better.” Eleven percent think “he has not provided any real change yet.”
The market reacted after Trump’s speech to Congress on Tuesday, as shares in U.S. companies including Ford and GM dropped.
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Feedback has been pointed across the aisle.
"Trump promised a better economy, but all he's delivering is higher prices and chaos. He promised to stand up to foreign adversaries, but all he's done is bow to [Russian President Vladimir] Putin. He promised to drain the swamp, but it's overflowing with billionaires cashing in." Representative Eric Swalwell, a California Democrat, wrote on X.
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