Former Trump Official Discusses Economic Recovery
On a recent segment with Fox News host Sean Hannity, Steve Moore, a former official from the Trump administration, emphasized that the economy is experiencing a significant recovery, contrary to some media forecasts.
On Tuesday, the Federal Reserve Bank of Atlanta adjusted its prediction for U.S. Gross Domestic Product (GDP) growth to 4.6%, up from an earlier estimate of 3.8%. Moore remarked that this shift in economic outlook “didn’t happen by accident” and dismissed earlier fears of a looming economic downturn.
“Doesn’t it seem like just about a month ago the media was warning we were heading toward another Great Depression because of Donald Trump?” Moore reflected. “It’s been a remarkable turnaround. I think this can be attributed to three key factors. First, we have a pro-business president who is supportive of American interests, which is very encouraging for small businesses and employers. Second, there’s the substantial tax cut that acts like rocket fuel for the economy. Donald Trump is making that happen, and I want to commend Mike Johnson, the speaker of the House, for getting that passed. Now, it’s up to the Senate to do their part.”
“Now, do I love that bill? No, I wouldn’t say I love it, but it’s crucial for the economy to get it done,” Moore added. “And thirdly, while I’m not a huge fan of the tariffs that Trump has implemented, he has been effectively negotiating trade deals, which has positively influenced the economy and the markets. Overall, things look quite promising right now.”
Moore, who previously conceded he underestimated the potential inflationary effects of Trump’s tariffs, noted that the economy is emerging from its “comatose” state.
“It’s almost as if Donald Trump — think about this. Since COVID struck, the American economy had been in a kind of slumber, almost comatose. Suddenly, it feels like the economy’s animal spirits are reawakening. I find this situation fantastic,” he said.
Trump announced a 90-day halt on reciprocal tariffs through a post on Truth Social on April 9, along with significant increases on tariffs for Chinese exports to the U.S., shortly after revealing the initial duties on imports. Subsequently, he also mentioned a reduction in tariffs on Chinese goods following negotiations in Geneva led by Secretary of the Treasury Scott Bessent.
Bessent shared with Hannity on May 1 that the Trump administration was in discussions regarding trade agreements with 17 major U.S. trading partners.
