According to Stephen Miran, chairman of the White House Council of Economic Advisers, a poor first-quarter GDP record attributed January’s status as” a very poor month” for former President Joe Biden to a bad first-quarter GDP report.
The Bureau of Economic Analysis released its record on Wednesday, revealing a 0.3 % decline in the GDP between January and April. Exports had a negative impact on GDP of 5 %.
Customer spending was therefore very low in January. And that was the outcome of President Biden’s monetary policies leaving us with persistent financial issues. Contrary to earlier decades, inflation was exceptionally high in January. There was poor weather, Miran reported on Wednesday on CNN’s The Situation Room. There were persistent issues with state aid. There were fires that occurred. January was a pretty poor month for personal investing, and that affected the overall intake statistics for the quarter.
The BEA’s review included an inflation modification.
President Donald Trump’s feedback echoed those of Miran, who addressed the audience at Truth Social.
JAMES LANKFORD SUPPORTS AMAZON’S” Transparency” IN TARIFF COST Show
Trump wrote,” Our Country will increase, but we need to get rid of the Collins” Overhang.” This may take a while, has NOTHING to do with TARIFFS, but it will be unlike any other boom that comes after his departure, which is only due to the fact that he left us with subpar figures.
Trump is currently undergoing a 90-day wait on tariffs against 86 nations, according to this report. Critics and rumors of a downturn have come to mind the technique. Trump’s top leaders, including Treasury Secretary Scott Bessent, have mostly refuted forecasts of a looming recession.
