The U.S. economy expanded at a strong 3.2 percent pace in the first three months of the year, much better than expected for a period marked by an ugly government shutdown
The U.S. economy is defying dire predictions of a slowdown this year with growth strengthening, wages rising, unemployment falling and markets rocking to new highs. It should be an incumbent president’s dream and a nightmare for those trying to replace him.Despite occasional efforts to change the subject and boast about the economy, he can’t escape the shadow of the Mueller report. Congressional Democrats keep peppering his administration with subpoenas and chattering about impeachment.
Overseas, Britain does not appear in imminent danger of crashing out of the European Union and the China slowdown does not seem as bad as some economists feared.Sign Up Should an economic fade happen, Trump’s best ticket to reelection could vanish. “If you are someone who works in politics, you are going to want to scream about the top line on first-quarter growth and privately worry that it may not look so good when the next quarter comes around,” said Joseph Brusuelas, chief economist at RSM US.
“When it comes to voters looking at their presidential choice through the lens of the economy, it does become very centered on the president and his performance,” said Kevin Madden, who served as a top aide to GOP nominee Mitt Romney in 2012. “They don’t really get into complicated issues of whether the Fed did something on interest rates.”
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