In a recent episode of his "Club Random" podcast, comedian Bill Maher candidly admitted to having misjudged the impact of President Donald Trump's tariff policies on the U.S. economy.
Maher had previously predicted that these tariffs would lead to economic turmoil by July, a forecast that has yet to come to fruition.
As reported by the Daily Caller, Maher was not alone in his concerns. Many economists had anticipated that the President's widespread tariffs would trigger inflation and other adverse economic effects. However, contrary to these predictions, several key economic indicators have demonstrated resilience.
Reflecting on his earlier stance, Maher remarked, I remember I, along with probably most people, were saying at the beginning, Oh, you know, by the 4th of July somebody had a thing how the economy was going to be tanked by then. And I was kind of like, Well, that seems right to me. But that didnt happen. Now, it could happen tomorrow. Im just saying thats reality.
Maher further acknowledged the unexpected strength of the economy, noting, [T]he truth is, I dont know what his strategy is. But look, the stock market is at record highs. I know not everybody lives by the stock market, but I also drive around. I dont see a country in a depression at all. I see people out there just living their lives. And I would have thought and I gotta own it that these tariffs were going to fucking sink this economy by this time and they didnt.
In addition to the robust stock market performance highlighted by Maher, other economic indicators have also shown positive trends. The Federal Reserve Board reported a 0.1% increase in manufacturing output in June, following a revised 0.3% rise in May.
Furthermore, U.S. jobless claims for the week ending July 19 decreased by 4,000, marking a three-month low and the sixth consecutive week of decline, as noted by Reuters. Retail sales growth also exceeded expectations in June, climbing 0.6%, according to advance estimates from the U.S. Census Bureau.
President Trump has also secured significant trade agreements during his second term, including deals with the European Union, Japan, and the Philippines. These developments underscore the resilience of the U.S. economy, despite initial skepticism surrounding the President's tariff strategy.
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