""If you look at gross domestic product, which is the overall output of the US economy, we're trending about 5% right now, which is a very high growth rate in the United States," Cohn said on CBS' "Face the Nation" on Sunday. Cohn, who is now IBM's vice chairman, also cited promising trends in inflation and unemployment rates. However, those numbers don't give the whole picture."
""That said, we've got an interesting economy," Cohn said. "We have a massive wealth effect at the top end, and we have got hardworking Americans having a very difficult time paying their bills, and they are suffering in this economy." That's why, Cohn said, the Trump administration is making affordability a key issue going forward. "The White House is going on the offensive. The president is going to spend time out on the road talking about affordability," Cohn said."
US GDP growth is around 5%, indicating strong overall economic output. Inflation and unemployment trends have shown improvement. Significant wealth accumulation is concentrated at the top end of the income scale, while many lower-income Americans struggle to afford food, rent, and other basics. The economy displays characteristics of a K-shaped recovery, with divergent experiences between affluent and vulnerable populations. The White House plans to emphasize affordability as a central issue in the run-up to the midterm elections. Policymakers face trade-offs between promoting growth and addressing rising living costs for lower-income households.
Read at Business Insider
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