Feb 20 β€’ 15:05 UTC πŸ‡±πŸ‡Ή Lithuania Lrytas

US economy not shining – new accusations and threats from Donald Trump

Donald Trump accuses Democratic lawmakers of hampering economic growth as new data releases show lower-than-expected growth rates in the US economy.

In recent developments surrounding the US economy, Donald Trump, the Republican leader, has laid blame on Democratic lawmakers for the slow growth rate following a prolonged government shutdown last year. The Department of Commerce reported a disappointing annual growth rate of 1.4% for the last quarter of 2022, underperforming the anticipated rate of 2.5%. This criticism comes just before the release of key economic data, indicating tension between parties concerning responsibility for economic performance.

Moreover, the overall growth for the year 2022 was 2.2%, which also fell short of the previous year's 2.8% figure. Trump has been active on social media, particularly on Truth Social, where he stated, "The Democrats’ shutdown cost the US at least two GDP percentage points," attributing a significant portion of the economic slowdown to the political actions taken by Democrats. This assertion highlights an ongoing narrative among Republicans that seeks to hold opposition lawmakers accountable for economic challenges.

In addition to targeting Democratic lawmakers, Trump has also criticized the Federal Reserve system and its outgoing chair, Jerome Powell, urging him to "CUT INTEREST RATES." Analysts closely monitor these developments as they signal potential impacts on economic policy and investor sentiment, especially with inflation remaining a concern and the Federal Reserve's response pivotal for future growth prospects.

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