- Last year, GDP expanded by 2.8% and the private sector added 1.5 million jobs, but Trump’s Treasury secretary told a conference audience recently, “The private sector has been in a recession.” Bessent said the solution was to “reprivatize” the economy, while a second administration official suggested changing how economic figures are calculated.
As consumer spending slows and CEOs worry about the potential fallout of Donald Trump’s tariff and tax policies, major economic indicators are flashing red, with the Atlanta Federal Reserve Bank even suggesting that the economy has flipped into reverse.
