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White House Economist Faces Scrutiny Over Economic Claims Amid Job Losses

White House Economist Faces Scrutiny Over Economic Claims Amid Job Losses

The White House is under scrutiny following comments by Kevin Hassett, the director of the National Economic Council, who claimed the U.S. economy is 'booming' despite recent job losses. In an interview with CNN's Jake Tapper, Hassett argued that the economy is performing well, contradicting data from the Bureau of Labor Statistics showing a loss of 23,000 jobs in July. This marks the sixth instance of job losses since President Trump returned to office. The White House's portrayal of the economy as thriving is at odds with public opinion, which reflects widespread dissatisfaction with economic conditions, including stagnant wages and inflation.
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President Trump Shares Misleading Inflation Chart Amid Economic Criticism

President Trump Shares Misleading Inflation Chart Amid Economic Criticism

President Donald Trump has shared a misleading inflation chart on Truth Social, attempting to defend his handling of inflation during his second term. The chart compares inflation rates under Trump with those of previous presidents, but inaccurately projects a constant inflation rate for the remainder of his term. This comes as Trump faces historically low approval ratings on his economic performance, with a CNN/SSRS poll showing a net approval rating of minus 50 points on inflation. The misleading chart has been criticized for its assumptions and lack of context, further complicating Trump's efforts to address economic concerns.
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President Trump Claims 401(k)s Have Doubled and Tripled Amid Economic Growth

President Trump Claims 401(k)s Have Doubled and Tripled Amid Economic Growth

President Trump Claims 401(k)s Have Doubled and Tripled Amid Economic Growth
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Canada holds more trade talks with US as tariff deadline approaches

Canada holds more trade talks with US as tariff deadline approaches

OTTAWA, Aug 11 (Reuters) - Canada's minister in charge of U.S. trade relations, Dominic LeBlanc, met with U.S. trade officials on Tuesday for the third time in as many weeks to try to avert looming tariffs on August 19.  "Today, we met with the United States Trade Representative, Jamieson Greer.
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President Trump Denies Frequent Contact with Fed Chairman Warsh Amid Interest Rate Discussions

President Trump Denies Frequent Contact with Fed Chairman Warsh Amid Interest Rate Discussions

President Donald Trump recently addressed reports regarding his communication with Federal Reserve Chairman Kevin Warsh. Trump confirmed that he spoke with Warsh 'one time, briefly, a few days ago,' countering earlier claims that they had been in frequent contact since Warsh assumed his role in May. This interaction comes amidst ongoing discussions about interest rate policies, with Trump advocating for lower rates. Despite Trump's pressure, Warsh maintains that he will independently decide on interest rate directions. Historically, direct interactions between the president and the Fed chairman have been rare, highlighting the significance of this recent communication. Additionally, Trump has been exerting pressure on the Federal Reserve, including efforts to remove Governor Lisa Cook from her position on the Fed's Board.
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Analysis: Trump's 2024 Election Impact and the Shaky Realignment of the Electorate

Analysis: Trump's 2024 Election Impact and the Shaky Realignment of the Electorate

An analysis of the 2024 election suggests that predictions of a Trump-driven realignment of the electorate may have been premature. While Trump initially attracted diverse groups such as young voters, Hispanic voters, and Black men, recent polls indicate a shift away from him and GOP candidates. Voters disillusioned with President Biden or Kamala Harris, who were drawn to Trump's promises on inflation, are now frustrated with ongoing economic challenges and the administration's foreign policy. The 2024 election, once seen as a turning point, is now viewed as a temporary anomaly rather than a lasting change.
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Republican Pollsters Warn of Democratic Surge Amid Economic Concerns Under President Trump

Republican Pollsters Warn of Democratic Surge Amid Economic Concerns Under President Trump

Republican pollsters and strategists are raising alarms about a potential Democratic wave in the upcoming midterm elections, driven by voter dissatisfaction with President Trump's economic management. Despite promises of a 'golden age,' economic indicators show a decline, with GDP growth at 1.9% over the past six quarters, lower than the 2.4% during Joe Biden's final year. The U.S. lost 23,000 jobs last month, contrary to predictions of an 83,000-job gain. Inflation is outpacing wage growth, with consumer prices rising 3.5% in June. The administration's unpopular war with Iran has also contributed to rising gas prices, further straining household budgets.
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Ex-Trump Aide Scaramucci Predicts President Will 'TACO' on Tariff Threat Against Canada

Ex-Trump Aide Scaramucci Predicts President Will 'TACO' on Tariff Threat Against Canada

Anthony Scaramucci, former communications director for President Trump, predicts that the President will back down from imposing a 50% tariff on Canadian goods. The tariffs, set to take effect on August 19, have been a point of contention in ongoing trade negotiations between Canada and the U.S. Scaramucci suggests that internal pressure from U.S. corporate leaders and the potential economic impact will lead Trump to reconsider. The negotiations aim to reach an interim deal to avert the tariffs and address other trade issues, such as those affecting steel, aluminum, and automotive sectors.
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President Trump Clarifies Limited Interaction with Fed Chairman Kevin Warsh Amid Economic Concerns

President Trump Clarifies Limited Interaction with Fed Chairman Kevin Warsh Amid Economic Concerns

President Donald Trump stated that he has only spoken to Federal Reserve Chairman Kevin Warsh once since Warsh's confirmation in May. This statement comes in response to a Wall Street Journal report suggesting that Trump had frequently sought Warsh's advice on economic matters, including the impact of the Iran conflict on the economy. Trump refuted these claims, emphasizing his respect for Warsh but clarifying that their interaction was limited to a brief conversation. The report highlights the political dynamics surrounding economic policy, particularly in the lead-up to the November elections, as oil and gas prices fluctuate due to geopolitical tensions.
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Economist SP Sharma Highlights India's $200 Billion Export Alternatives Amid Potential US Tariffs

Economist SP Sharma Highlights India's $200 Billion Export Alternatives Amid Potential US Tariffs

The Trump administration has signaled the possibility of imposing a 100% tariff on countries purchasing Russian crude, raising concerns about the impact on India's exports to the U.S. Economist SP Sharma has identified 15 alternative markets for Indian exports, which could potentially generate $200 billion in revenue. Despite the strong trade relationship between India and the U.S., Sharma emphasizes that India is not overly dependent on the U.S. market. In 2025-26, India's merchandise exports to the U.S. increased to $87.3 billion, showcasing resilience despite global trade uncertainties. Sharma suggests that higher tariffs could also negatively affect U.S. consumers by increasing prices, as India is a competitive supplier of labor-intensive goods.
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In rural Wisconsin, frustrations over Trump ag policies heat up House race

In rural Wisconsin, frustrations over Trump ag policies heat up House race

By Renee Hickman EAU CLAIRE, Wisconsin, Aug 10 (Reuters) - When she’s not trekking across Wisconsin’s 3rd Congressional District to meet voters, Democratic congressional challenger Rebecca Cooke is still on her feet, waiting tables at two restaurants around Eau Claire, a city of about 73,000 people
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US communications agency is the unlikely spearhead of Trump's China policy

US communications agency is the unlikely spearhead of Trump's China policy

By Michael Martina and Alexandra Alper WASHINGTON, Aug 10 (Reuters) - The Federal Communications Commission, once better known for spectrum auctions and licensing television stations, has emerged as the unlikely leader of some of the Trump administration's most aggressive actions against China.