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Recent reports suggest the president may have only a thin buffer to rely on if a prolonged conflict starts to weaken growth and spur inflation.
President Donald Trump plays golf at the Trump National Golf Club in Sterling, Virginia, Nov. 21, 2020. | Manuel Balce Ceneta/AP
The guardrails that protected the U.S. economy from President Donald Trump’s policy jolts are wearing thin.
New economic reports show inflation is ticking higher, prompting the Federal Reserve on Wednesday to keep interest rates steady. Hiring has stagnated, wage growth has fallen, and market-based interest rates are climbing amid concern over rising prices, sending mortgage rates up. And with oil now topping $100 a barrel — with no end in sight for the Iran conflict — Trump’s economy only has a thin cushion to rely on if the war in the Middle East starts to rock the economy.
