President Donald Trump took to social media Monday morning to extol various parts of the U.S. economy that add up to “the best of all worlds” for the country.
Trump posted his message as the work week began with the sixth day of the federal shutdown, which was forced by Democrats’ unwillingness to support Republicans’ clean continuing resolution.
“JUST OUT: Good news for the Holiday Season. EARLY PRICES ARE DOWN, WHILE TARIFFS ARE MAKING OUR COUNTRY AN ECONOMIC POWER AGAIN. Also, virtually NO INFLATION, AS STOCK MARKETS CONTINUALLY HIT RECORD HIGHS. THE BEST OF ALL WORLDS FOR THE U.S.A.” Trump posted on Truth Social.
“MAKE AMERICA GREAT AGAIN!!!” he added.
Trump in recent weeks has taken action affecting certain sectors of the U.S. economy.
Last week, he announced the first agreement with a major pharmaceutical company, Pfizer, to bring American drug prices in line with the lowest paid by other developed nations.
The president also signed a proclamation invoking Section 232 of the Trade Expansion Act of 1962 to impose tariffs on imports of timber, lumber, and their derivative products (wood products) to bolster American industry and protect national security.
The Dow and S&P 500 registered record closing highs Friday even as the U.S. government shutdown went on for a third day, with interest rate-cut expectations improving.
U.S. auto sales are expected to rise about 6% in the third quarter from a year ago, as consumers were seen pulling forward their electric vehicle purchases before the end of certain tax credits, while demand for SUVs and crossovers remained steady.
The Labor Department’s monthly jobs report about hiring in September was not released Friday due to the government shutdown.
The interruption in the data has occurred at a particularly uncertain time, when policymakers at the Federal Reserve and Wall Street investors would need more data on the economy, rather than less. Hiring has ground nearly to a halt, threatening to drag down the broader economy. Yet at the same time, consumers — particularly higher-income earners — are still spending and some businesses are ramping up investments in data centers developing artificial intelligence models.
It’s the first time since a government shutdown in 2013 that the jobs report has been delayed.
The Associated Press contributed to this report.
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