From Newsweek · · 50s
Economist Rejects 'Booming' U.S. Economy Claims
Top economist says U.S. economy isn't booming despite Trump's claims.
In brief
Top economist says U.S. economy isn't booming despite Trump's claims. Moody's chief economist Mark Zandi says the U.S. economy isn't booming for most Americans due to rising energy costs and inflation. Originally reported by Newsweek.
Trump's Economic Claims
President Trump describes his economy as 'booming' during rallies and interviews.
“America's abundant energy resources are the backbone of our booming economy”
Economist's Counterpoint
Mark Zandi, chief economist at Moody's Analytics, says the economy isn't booming for most Americans.
“The economy is far from booming, unless you are in the ai ecosystem, and most americans aren't”
Unemployment Rate
Unemployment rate rose to 4.2 percent in September, up slightly from 4.1 percent in August.
“4.2 percent”
Corporate Profits
Corporate profits reached a record $4.7 trillion in the second quarter of 2026.
“$4.7 trillion”
Wage and Inflation Impact
After-inflation wages are falling while consumer prices rise, creating effective pay cuts.
“Nominal hourly earnings rose 0.1 percent though consumer prices increased 0.6 percent”
Consumer Confidence Drop
Consumer confidence has fallen to near all-time lows due to high fuel prices and trade tensions.
“Consumer confidence has fallen near all-time lows”
What matters most
Moody's chief economist Mark Zandi says the U.S. economy isn't booming for most Americans due to rising energy costs and inflation.
