The president, who campaigned on his ability to improve the economy and has sought to take credit for the economic successes, is positioning himself to avoid blame for any possible downturn.
Trump had created 5.6 million jobs though the second quarter of the year. Employers added 164,000 jobs in July.)
Although Conway offered a rosy depiction of the economy, the reality is more complicated. Unemployment is at 3.7 percent, just a tick above a half-century low of 3.6, where it sat for two months. Job creation has been steady, even if the levels under Trump are still below those that took place during theBut Trump's trade war, which he previously said would be easy to win, is dragging on, and its global impacts are becoming more apparent.
Consumer sentiment, which Conway touted, decreased 6.4 percent according to preliminary figures published Friday, dropping to its lowest level since January. Richard, a professor at the University of Michigan's Survey Research Center, which releases the figures, wrote that Trump's threat to impose new tariffs on Chinese imports had spurred the slide in sentiment.
U.S. business investment slowed last quarter, although it dropped less than predicted. Central banks have pursued aggressive rate cuts and figures released last week showed that Germany's economy, the 4th largest in the world, had contracted last quarter. China's economy grew at the slowest rate in nearly 30 years last quarter. And AP, the world's largest shipping company, which is used to assess trade sentiment, said last week that the trade war had stunted growth.
Although a recession will come eventually, it isn't guaranteed to occur during Trump's presidency. But the president, who built his appeal on improving the economy and has sought to take credit for the economic successes, is positioning himself to avoid blame for any possible downturn. The president has regularly lashed out at the Federal Reserve, claiming that that the central bank has stunted economic growth by raising its interest rates too quickly.
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