Summary
Commerce Secretary Howard Lutnick blamed Biden for weak economic data, citing February’s 77,000 job gain (vs. 186,000 in January), a 7-point drop in consumer confidence, and the Atlanta Fed’s Q1 GDP forecast falling from +2.3% to -2.8%.
He dismissed concerns over Trump’s tariffs on Canada and Mexico and proposed excluding government spending from GDP, a move criticized by economists.
The Dow fell 1,300 points in two days, signaling investor uncertainty.
The administration also disbanded economic advisory committees, raising concerns about data transparency and policy direction.
Good thing to come around on. Mediocrity is the norm, and there’s not really a great reason to hate on it.
It’s like hating on Garfield. Sure, Garfield became really mid after it stopped being just Jim Davis and started being Paws, Inc., but plenty of people still love Garfield so who cares? It’s perfectly okay to enjoy things that aren’t perfect.
Not to mention the patron saint of mediocrity was really good himself: