Trump insists US economy is strong despite soaring fuel costs
Updated
Updated · The New York Times · May 8
Trump insists US economy is strong despite soaring fuel costs
4 articles · Updated · The New York Times · May 8
As the war with Iran enters a third month, White House adviser Kevin Hassett said consumers and companies remain resilient and predicted a strong US jobs report on Friday.
Hassett cited credit-card spending data, solid corporate earnings and a continuing market rally, saying unemployment was unlikely to rise despite higher petrol prices.
Some economists warn prolonged energy-price increases could become a global headwind, slowing growth and weakening the US labour market if the conflict remains unresolved.
Can America's 'energy dominance' policy truly shield consumers from the war's escalating economic fallout?
Is the US economy truly resilient, or are we witnessing the early stages of a 1970s-style stagflation crisis?
Is strong consumer spending a sign of confidence, or a credit-fueled bubble on the verge of bursting?