Trump’s Policies Have Shaken a Once-Solid Economy

“President Trump inherited an economy that was, by most conventional measures, firing on all cylinders. Wages, consumer spending and corporate profits were rising. Unemployment was low. The inflation rate, though higher than normal, was falling,” the New York Times reports.

“Just weeks into Mr. Trump’s term, the outlook is gloomier. Measures of business and consumer confidence have plunged. The stock market has been on a roller-coaster ride. Layoffs are picking up, according to some data. And forecasters are cutting their estimates for economic growth this year, with some even predicting that the U.S. gross domestic product could shrink in the first quarter.”

“Some commentators have gone further, arguing that the economy could be headed for a recession, a sharp rebound in inflation or even the dreaded combination of the two, ‘stagflation.’”