Tuesday, January 9, 2024
Year : 1, Issue : 19
Former President Trump said in an interview that aired Monday that he predicts the U.S. economy will crash and that he hopes it does so within the next year.
In the interview with Lou Dobbs, Trump, the current front-runner in the GOP presidential primary race, explained that, if he were elected again, he would not want to serve a term similar to President Hoover’s — who took office when the economy was stable but later oversaw the start of the Great Depression.
Trump railed against the economy but conceded that there were some good aspects of it and took credit for those successes. The U.S. economy, however, has defied economists’ predictions and closed the 2023 year with high marks on a wide range of criteria: Inflation was down, job growth remained high, and the unemployment rate stayed low.
The U.S. added 216,000 jobs in the final month of 2023 and kept the unemployment rate at 3.7 percent, far exceeding the expectations of economists. The annual inflation rate also dropped from 9.1 percent, a four-decade high, in June 2022 to 3.1 percent in November, according to the Labor Department.
Source: The Hill
