If you zoom out, the US economy has been undisputedly resilient, pretty much ever since the global financial crisis in 2008.
The last few years have been more controversial however. Technical recessions, vibecessions, high inflation, low inflation. Investors have seen it all.
The market is both going to crash or continue going past all-time-highs. Depends on who you ask.
Based purely on data, Donald Trump inherited a strong economy. The President himself speaks confidently about America getting rich off tariffs and a manufacturing boom unlike any other.
But the gap between the hard data and the political story is now wide enough that investors are asking: is Trump’s economy really built on substance, or just vibes?
What the latest data really show
The US economy added just 22,000 jobs in August, far below expectations of 75,000. June payrolls were revised to show a net loss of 13,000…
