When recent data showed the U.S. economy grew by the fastest pace in nearly two years, the White House released a statement hailing the “Trump economy’s explosive growth,” which proved “so called ‘experts’” wrong.
The numbers showed gross domestic product increased at a revised 3.8% annualized pace during the second quarter which, the White House said, was just the beginning of a new economic resurgence.
That bullish tone was in stark contrast to a message delivered only hours earlier, before the data was released, by President Donald Trump’s most recent appointee to the Federal Reserve’s Board of Governors, Stephen Miran. He used two television interviews to call for rapid and steep interest-rate cuts in order to cushion a vulnerable economy.
“I would rather act pro-actively and lower