The Coming Recession Will Be Self-Inflicted
The looming economic contraction will be unique in post-war America in that it will be the first directly caused by White House policy.
A self-inflicted economic wound.
Photographer: UCG/Universal Images Group EditorialThe US economy is plodding toward a recession, a result of the Trump administration’s pursuit of three contractionary policies in tandem: Reducing the size of the federal government; instituting broad tariffs; and deporting workers. Unless these policies that shrink the economy are abandoned, a recession is all but guaranteed.
Recessions happen. We have suffered 13 since World War II. They all hit familiar beats. Jobs will be eliminated, hiring will slow and unemployment will rise. Also, businesses will shutter, workers will give up on the labor market and wage growth will be anemic. And when a recovery begins, it can take years for the economy to fully heal.