The #TrumpRecession Label Is Going to Stick
Presidents usually get too much blame for economic slowdowns. This time is different.
Bloomberg, August 15, 2019
A recession while Trump is president is very different than a “Trump recession.”
It happens all the time: During the course of an ordinary cycle, an economic downturn occurs through no fault of the person holding the highest office in the land. Think of George H.W. Bush, or Barrack Obama, or John F. Kennedy.
There are other times, when a recession might be caused by the occupant of the White House. Think about Herbert Hoover’s protectionist policies, or Jimmy Carter’s malaise.
Then there is the current situation. It is becoming increasingly difficult for us to avoid the inevitable, that is staring us in the face. The landscape is shifting, the yield curve has inverted, the tariff and trade wars are biting, the probabilities are increasing: its looking more and more like the next contraction will be The Trump Recession . . .
I wrote about this at here.
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I originally published this at Bloomberg, August 15, 2019. All of my Bloomberg columns can be found here and here.
