Economy Showing Signs of Recovery, Says Former Trump Official
Steve Moore, a former official from the Trump administration, shared his thoughts on the economy during an appearance on Fox News with Sean Hannity Tuesday night. He claimed the economic landscape was experiencing an “amazing turnaround,” contrary to what some media outlets had forecasted.
The Federal Reserve Bank of Atlanta recently updated its projections, estimating a 4.6% growth in the U.S. Gross Domestic Product (GDP), revising it upwards from 3.8%. Moore suggested that this recovery didn’t come about by chance and criticized those who anticipated a dire economic outlook.
“It feels like just a month ago, the media was warning us about a new Great Depression because of Donald Trump,” Moore noted. “Now, we’re witnessing an impressive shift. I attribute this progress to three key factors. Firstly, we have a pro-business president, which brings confidence to small businesses and employers across America. Secondly, the substantial tax cuts are energizing the economy—Donald Trump is ensuring that this happens. I must give credit to Mike Johnson, the House Speaker, for pushing this through; now it’s time for the Senate to step up.”
“Do I fully support that bill? Not really, but its passage is crucial for the economy,” he added. “Lastly, while I’m not entirely in favor of the tariffs Trump implemented, there’s no denying that the successful trade deals are positively influencing the economy and the markets. Overall, it’s a promising situation right now.”
Moore, who has previously acknowledged he may have misjudged the impact of tariffs on inflation, remarked on the revival of a previously “comatose” economy.
“It’s almost as if Donald Trump has stirred something awake. Since COVID hit, the American economy seemed to be in a deep slumber, but now it seems like economic enthusiasm is returning. I think it’s fantastic,” he expressed.
Recently, Trump announced a 90-day suspension on reciprocal tariffs in an April 9 post on Truth Social, which also detailed considerable increases on tariffs for Chinese exports to the U.S., shortly after unveiling those duties. Following negotiations led by Treasury Secretary Scott Bessent in Geneva, Trump later reported a decrease in tariffs on Chinese products.
Bessent had informed Sean Hannity on May 1 that the Trump administration was in the process of negotiating trade agreements with 17 key trading partners of the U.S.
