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Trump’s first year could have lasting economic consequences
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Economists warn that US President Donald Trump is setting the country on a path that will, in the long run, leave the economy less dynamic, the financial system less stable and Americans less prosperous in the decades ahead.
PHOTO: ERIC LEE/NYTIMES
Ben Casselman
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WASHINGTON – For all the chaos along the way, US President Donald Trump’s first year back in the White House is ending with an economy that looks, by most conventional measures, much like the one he inherited. Unemployment is low, consumer spending is strong and inflation is stubbornly high, but gradually improving.
Tariffs – Mr Trump’s signature economic policy – have not set off the manufacturing renaissance he promised, but nor have they caused the surge in inflation that many forecasters feared.
