(NewsNation) — Moody’s Analytics chief economist Mark Zandi said the U.S. economy is “on the precipice of recession,” citing indicators from last week’s economic data releases.
In a social media post Monday, Zandi pointed to stagnant consumer spending, contracting construction and manufacturing sectors and projected employment declines.
Rising inflation makes it difficult for the Federal Reserve to provide economic stimulus, he said.
Why job numbers change: Understanding the latest revisions
While unemployment remains low, Zandi attributed this to declining labor force growth rather than economic strength.
“The foreign-born workforce is shrinking and labor force participation” is falling, he wrote.
JUST A REMINDER....WAIT AND WATCH....BECAUSE THE FACTS AND THEY R FACTS, JUST KEEP PILING UP. GET IN,GRAB THE BAR AND HOLD ON.....WE R GOING FOR RIDE.An economy-wide hiring freeze affecting recent graduates and declining work hours signal deeper problems, according to Zandi.
Zandi blamed the economic struggles on increasing “U.S. tariffs and restrictive immigration policies.”
The tariffs are “cutting increasingly deeply into the profits of American companies and the purchasing power of American households,” while fewer immigrant workers mean “a smaller economy.”
The economist defended recent economic data against suggestions it misrepresents economic reality. Large revisions to employment figures are normal during economic turning points like recessions, he said.
“This didn’t matter much when government employment was stable, but now that government jobs are declining, the cuts are being picked up in the revisions,” Zandi wrote.
BLS chief Trump accused of data fraud responds to firing
US employers added 73K jobs in July; May and June data slashed 88%
U.S. employers added 73,000 jobs in July, short of the 115,000 forecasters expected. But Friday’s Labor Department data revealed a more troubling trend: The job market has been much softer than many realized. PER NEWSNATION
The mainstream media is creating a self fulfilling prophecy. Warning everyone a recession is coming, so everyone stops spending and corporations stop hiring.
The Leftist press is trying to create a recession just to make President Trump look bad.
Is this treason?
Thomas Sowell: There are no solutions, just trade-offs.
SO-O-O. U POST MULTIPLE HEADLINE FROM YOUR SOURCES,THAT THERE IS NOT A PROBLEM....I DON'T MEAN ONE SOURCE I MEAN VARIOUS NON STREAM SOURCES THAT SAY THE SAME THING.....I HAVE SHOWN U,THRU VARIOUS CREDIBLE SOURCES...FORBES,BUSINESS INSIDER, REUTERS.....THAT MY WAIT AND WATCH MANTRA HAS BEEN DEAD ON.....GET A CLUE
AND SEE THE REALITY ,INSTEAD OF TRUMPS TREASURY OF LIES.
Rick wrote: Treason is when a sitting president tries to take out a duly elected replacement with made up Russian bullshit.
The press is just unAmerican and worthless as a watchdog.
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GEEZ. I GUESS WE CAN AGREE ON THAT ONE THING......BUT,WHERE R ALL YOUR SOURCES THAT REFUTE MY STATEMENTS....WE R IN DEEP DOO DOO AND THE REFUSAL TO ACKNOWLEDGE THAT IS UNBELIEVABLE.
Rick wrote: Treason is when a sitting president tries to take out a duly elected replacement with made up Russian bullshit. [b/]
The press is just unAmerican and worthless as a watchdog.
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GEEZ. I GUESS WE CAN AGREE ON THAT ONE THING......BUT,WHERE R ALL YOUR SOURCES THAT REFUTE MY STATEMENTS....WE R IN DEEP DOO DOO AND THE REFUSAL TO ACKNOWLEDGE THAT IS UNBELIEVABLE.
So you agree that Obama tried to take out Trump before he stepped foot in the White House?
As for sources I trust, I don't trust any of them to give me accurate predictions... I compile what I know from all sources (including yours), and I make my own predictions based on what I believe is true. You, on the other hand, post daily predictions that tell you the world is coming to an end and Trump is going to destroy the country. Predictions are not facts, but anti-Trump predictions seem to keep your hopes up that Trump will fail, which means the country also fails.
My refusal to believe the crap you post is based on history. If you had a record of accurate predictions and accurate information, in general, I would be more likely to take your posts seriously... but we all know your record, because we all know your sources failed you, especially during the Auto-Pen administration.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.