No worries. The ‘economic golden years’ are ahead.

All of President Trump’s economic policies are geared to the long term. In the short term, there may be some issues.

Some of the most recent economic data seems to indicate that tough economic times may be coming. GDP growth is slowing. Inflation is rising. Tens of thousands of government workers are losing their jobs. Bankruptcies increased last year. And consumer confidence is falling.

Add to that the threat of 25% tariffs on all goods imported from Mexico and Canada, along with another 10% tariff on Chinese goods, and a trade war may be forthcoming. Trade wars always end up hurting both sides.

This data usually indicates that slower economic growth accompanied by rising unemployment and continued rising prices lie ahead. While that may be true in the very short term, the longer-term economic outlook is much different.

In the fourth quarter of last year, economic growth slowed to a 2.3% rate after six months of growth exceeding 3%. The inflation rate, which has declined from the peak of 9.1% in June 2022, fell to 2.4% in September of last year. Since then, inflation has steadily increased to the current 3% rate.

It looks like tough economic times lie ahead. Except……….