Former Trump administration official Steve Moore told Fox News host Sean Hannity on Tuesday night that the economy was making “an amazing turnaround” despite predictions from some media outlets.
The Federal Reserve Bank of Atlanta projected that the U.S. Gross Domestic Product (GDP) would grow by 4.6% Tuesday, an increase from a previous estimate of 3.8%. Moore said the improved economy “didn’t happen by accident” and mocked the predictions of economic doom.
“Doesn’t it seem just like about a month ago that the media was saying we’re headed to a second Great Depression because of Donald Trump?” Moore asked. “So, it’s been an amazing turnaround. And I would attribute this to three factors. Number one, you’ve got a pro-business president, a pro-America, pro-business president, and that is a very reassuring thing for America’s small businesses and our employers. Number two, you’ve got this big tax cut that is like rocket fuel for the economy. Donald Trump is going to get this done. And I want to salute Mike Johnson, speaker of the House, who got that through the House. Now the Senate has to do their job.”
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“Now, do I love that bill? No, I don’t love it, but it’s extremely important for the economy that they get this done,” Moore continued. “And then third of all, as you know, Sean, I’m not a big fan of the tariffs that Trump has put in place, but he is, one after another after another, getting these trade deals done, and that has had a very positive impact on the overall economy and the markets. So, this is a beautiful picture right now.”
Moore, who previously admitted he was wrong about whether the tariffs Trump imposed would cause inflation to increase, said the “comatose” economy was coming back to life.
“It’s almost like Donald Trump — think about this. Since COVID hit, you know, the American economy has been kind of in a slumber, it’s been kind of comatose. And all of a sudden it’s almost like the animal spirits of the economy have re-awaken. And I love this picture. I just think it’s fantastic.”
Trump announced a 90-day pause on reciprocal tariffs via an April 9 post on Truth Social that also announced substantial increases on tariffs on Chinese exports to the U.S., a week after he initially unveiled the duties on imports. Trump later announced a reduction on tariffs on Chinese goods after negotiations in Geneva led by Secretary of the Treasury Scott Bessent.
Bessent told Fox News host Sean Hannity on May 1 that the Trump administration was negotiating trade deals with 17 major trading partners of the U.S.
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