{"id":35220,"date":"2025-07-31T06:57:14","date_gmt":"2025-07-31T06:57:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/35220\/"},"modified":"2025-07-31T06:57:14","modified_gmt":"2025-07-31T06:57:14","slug":"economist-steve-moore-over-the-moon-about-new-gdp-numbers-under-trump","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/35220\/","title":{"rendered":"Economist Steve Moore Over The Moon About New GDP Numbers Under Trump"},"content":{"rendered":"

\"President<\/a>President Donald Trump \u201cOperation Midnight Hammer\u201d (White House)<\/p>\n

Economist Steve Moore on Wednesday expressed enthusiasm about the latest U.S. real gross domestic product (GDP) numbers.<\/p>\n

GDP<\/a>\u00a0rose at an annual rate of 3.0% in the second quarter of 2025, reflecting a decrease in imports and an uptick in consumer spending,\u00a0according<\/a>\u00a0to the U.S. Bureau of Economic Analysis (BEA). Moore said on \u201cThe Charlie Kirk Show\u201d that the figures reflect the success of President Donald Trump\u2019s economic policies.<\/p>\n

\u201cOh my gosh, what a day. I cannot believe these numbers that came out today, Charlie. Trump is just hitting it out of the park,\u201d Moore told host Charlie Kirk. \u201cAnd do you remember five months ago when all the leftists said, \u2018Oh, Trump is going to cause a second Great Depression. He\u2019s going to destroy the economy and the stock market\u2019s gonna crash.\u2019\u201d<\/p>\n

READ: CNBC\u2019s Rick Santelli Touts \u2018Better Than Expected\u2019 GDP Numbers Under Trump Despite Tariff Concerns<\/a><\/p>\n

\u201cWe got the news today of 3% economic growth for the second quarter,\u201d he continued. \u201cThat\u2019s higher than any quarter, I believe, in the four years that [Joe] Biden was president. This economy is cooking right now.\u201d<\/p>\n

The GDP under Biden did exceed 3% multiple times during his administration,\u00a0according<\/a>\u00a0to Trading Economics. The 3% GDP rise marked a rebound from the first quarter of 2025 when real GDP had decreased 0.5%,\u00a0according<\/a>\u00a0to the BEA.<\/p>\n

Many economists\u00a0predicted<\/a>\u00a0that Trump\u2019s sweeping\u00a0tariffs<\/a>\u00a0would cause higher\u00a0inflation<\/a>\u00a0and other negative effects, but several\u00a0economic<\/a>\u00a0indicators have demonstrated strength, including the\u00a0stock market<\/a>, which has reached record highs.<\/p>\n

READ: Fed Holds Rates Steady Amid Trump Pressure And Inflation Concerns<\/a><\/p>\n

Manufacturing output also\u00a0rose<\/a>\u00a00.1% in June after an upwardly revised 0.3% increase in May, the Federal Reserve Board\u00a0reported<\/a>\u00a0on July 16. Moreover, U.S. jobless claims for the week ending July 19 plunged by 4,000, marking a sixth straight week of decline and a three-month low, Reuters\u00a0reported<\/a>.<\/p>\n

Furthermore, U.S. retail sales growth bounced back more than\u00a0expected<\/a>\u00a0in June, rising 0.6%,\u00a0according<\/a>\u00a0to advance estimates from the U.S. Census Bureau released July 17.<\/p>\n

Trump has also announced significant trade deals during his second term, including with the\u00a0European Union<\/a>,\u00a0Japan<\/a>\u00a0and the Philippines.<\/p>\n

Comedian Bill Maher\u00a0admitted<\/a>\u00a0on a Monday episode of his \u201cClub Random\u201d podcast that he was wrong in predicting Trump\u2019s tariffs would ruin the U.S. economy by July.<\/p>\n

READ: CBS News Report Finds Many Discrepancies In DOJ\u2019s Epstein Jail Footage<\/a><\/p>\n

\u201c[T]he stock market is at record highs. I know not everybody lives by the stock market, but I also drive around. I don\u2019t see a country in a depression at all,\u201d he said. \u201cI see people out there just living their lives. And I would have thought \u2014 and I gotta own it \u2014 that these tariffs were going to fucking sink this economy by this time \u2014 and they didn\u2019t.\u201d<\/p>\n

Moore also\u00a0admitted<\/a>\u00a0on \u201cKudlow\u201d in May that increased inflation from tariffs Trump levied had not materialized.<\/p>\n

\u201cI\u2019ve been wrong. I thought these tariffs would cause higher inflation. Tariffs are taxes, and consumers bear some of the cost of that, but it just isn\u2019t showing up in the numbers right now,\u201d Moore told Fox Business host Larry Kudlow. \u201cIt just really isn\u2019t and if you look at any, almost any measure of inflation right now, it\u2019s pretty tame.\u201d<\/p>\n

Please make a small\u00a0donation to the Tampa Free Press to help sustain independent journalism<\/a>. Your contribution enables us to continue delivering high-quality, local, and national news coverage.<\/p>\n

Connect with us:\u00a0Follow the Tampa Free Press on\u00a0Facebook<\/a>\u00a0and\u00a0Twitter<\/a>\u00a0for breaking news and updates.<\/p>\n

Sign up:\u00a0Subscribe to our free\u00a0newsletter<\/a>\u00a0for a curated selection of top stories delivered straight to your inbox.<\/p>\n

\"Daily<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump \u201cOperation Midnight Hammer\u201d (White House) Economist Steve Moore on Wednesday expressed enthusiasm about the latest…\n","protected":false},"author":2,"featured_media":35221,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-35220","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/35220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=35220"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/35220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/35221"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=35220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=35220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=35220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}