# Economist Rejects 'Booming' U.S. Economy Claims

> Top economist says U.S. economy isn't booming despite Trump's claims.
- Title: Economist Rejects 'Booming' U.S. Economy Claims · Newsweek
- Summary: 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…
- Keywords: mark zandi, moody's analytics, unemployment rate, inflation, energy prices, trump administration, jpmorgan, corporate profits, ai investment, consumer confidence, Economist, Rejects
- Source: Newsweek — https://newsweek.com/top-economist-dismisses-claims-americas-economy-is-booming-12599305
- Published: 2026-10-21T15:11:51+00:00
- Read time: 1 min
- Topics: mark zandi, moody's analytics, unemployment rate, inflation, energy prices, trump administration, jpmorgan, corporate profits, ai investment, consumer confidence
## 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
## Key takeaway

Moody's chief economist Mark Zandi says the U.S. economy isn't booming for most Americans due to rising energy costs and inflation.