President Trump’s Economy: Boom, Bust, or Business as Usual?
Original Report
President Trump says inflation is plunging, incomes are rising, and the economy is “roaring.” Former Obama economic adviser Jason Furman offers a reality check. Growth has been steady and...
President Trump says inflation is plunging, incomes are rising, and the economy is “roaring.” Former Obama economic adviser Jason Furman offers a reality check. Growth has been steady and unemployment stable, but tariffs are adding costs, policy uncertainty remains high, and the AI boom may not yet justify massive investment. With the Supreme Court striking down key tariffs and refund battles looming, the bigger question is whether today’s stability masks deeper long-term risks. (Source: Bloomberg)
Glass House Analysis
Labor market conditions shape the lived experience of millions of working families. When jobs are plentiful, workers have leverage to demand better wages and conditions; when they're scarce, the balance of power shifts to employers. This dynamic plays out daily in kitchen tables across America, where families make decisions about whether to ask for a raise, change jobs, or accept less-than-ideal conditions out of necessity.
International economic policy has concrete impacts far beyond diplomatic circles. Tariffs show up in the price of goods at stores, supply chain disruptions affect whether products are on shelves, and trade tensions can mean job losses in export-dependent industries. The globalized economy means that decisions made abroad can affect workers and consumers domestically.
Inflation is the silent tax that erodes purchasing power, hitting hardest those who can least afford it. When grocery bills rise faster than wages, families face impossible choices between food, medicine, and rent. Unlike market volatility that mainly affects investors, inflation touches everyone who buys groceries, fills a gas tank, or pays rent.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
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