Updated
Updated · The New York Times · Oct 3
Trump Calls Economy a 'PR' Problem as High Prices and Slow Hiring Dog Midterms
Updated
Updated · The New York Times · Oct 3

Trump Calls Economy a 'PR' Problem as High Prices and Slow Hiring Dog Midterms

3 articles · Updated · The New York Times · Oct 3

Summary

  • One month before the midterms, Trump intensified campaigning in Alabama, Oklahoma, Texas and Washington, arguing voters underestimate an economy he says remains strong.
  • Friday's jobs report undercut that message: overall hiring cooled in September, and wages again failed to keep pace with consumer-price increases.
  • Trump and his aides pointed to booming markets, economic growth and a September pickup in construction hiring as evidence the expansion is intact.
  • For many Americans, though, higher gasoline costs and rising rates on auto loans, credit cards and mortgages have outweighed those gains, creating a political risk for Republicans.

Insights

If headline economic growth is soaring, why are consumer credit defaults quietly hitting their highest levels in over a decade?
With wider equity ownership buffering rate hikes, has the traditional definition of a healthy economy permanently left the average worker behind?