America’s economy is far outstripping its peers, but there are serious risks, including from the president-elect.According to The New York Times, the American economy is currently outperforming its global counterparts, but there are potential risks on the horizon, including those posed by the president-elect.
The U.S. economy is currently experiencing moderate inflation and the Federal Reserve has been cutting interest rates. Additionally, there has been a decrease in illegal border crossings and an increase in domestic production in key industries, which were all promises made by President-elect Donald J. Trump during his campaign.
These economic successes can be attributed to the policies implemented by the Federal Reserve and the Biden administration in recent years. Despite initial concerns that the Fed’s efforts to control inflation would harm the economy, the opposite has occurred. In fact, the unemployment rate is low and consumer spending is strong.
During a news conference on Wednesday, Fed chair Jerome H. Powell stated that the U.S. economy has been “remarkable.” However, there are several potential risks that could disrupt this positive outlook, some of which are beyond anyone’s control and others that have been suggested by President-elect Trump.
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