Trump reportedly thinks he can talk America out of a recession. 'Everyone is nervous — everyone.'
President Trump's economic advisers notified him earlier this month that "some internal forecasts showed that the economy could slow markedly over the next year," The Washington Post reports. But even as warning signs mounted, Trump "has been portraying the economy to the public as 'phenomenal' and 'incredible.' He has told aides that he thinks he can convince Americans that the economy is vibrant and unrattled through a public messaging campaign."
But that messaging campaign has been "muddled and often contradictory" thanks to mixed economic data, Trump's erratic comments, and internal disagreements over how to shore up the economy, compounded by uncertainty among staffers about what Trump measures would support or what he's thinking at any given moment, the Post reports, citing interviews with more than 25 current and former administration officials, lawmakers, and external advisers who've spoken with Trump and his team throughout this tumultuous month.
"Everyone is nervous — everyone," a Republican with close ties to the White House told the Post. "It's not a panic, but they are nervous."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"Compounding Trump's situation, some of the economy's strains appear to be of his own making, as uncertainty surrounding his trade war with China has frozen much investment nationwide," and the White House is struggling with "how to handle that bracing reality — and Trump's own stubbornness on trade strategy and his anger about news coverage of the economy," the Post reports. "Trump, aides said, is obsessed with media coverage of the economy, and thinks Americans will believe negative news and stop spending money."
White House spokesman Judd Deere insisted "the fundamentals of the economy are strong because of this president's pro-growth policies," but former White House economic advisers disagree. "The irony here is that Trump's erratic, chaotic approach to the economy is probably the most significant economic risk factor in the world right now," said Gene Sperling, a veteran of the Clinton and Obama administrations. "Their response is just to show even more erratic behavior. It's economic narcissism." Read more about the economic tumult of August at The Washington Post.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
6 scenic white water rafting destinations to get your heart racing
The Week Recommends Have a rip-roaring time on the water
By Catherine Garcia, The Week US Published
-
Dangerous substances in Lunchables are raising concerns over children's health
In the Spotlight High levels of lead and sodium were recently found in the snack packages
By Justin Klawans, The Week US Published
-
The Week contest: Fired art
Puzzles and Quizzes
By The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published