ECONOMY/JOBS/TARIFFS/TRADE WAR/TRUMP AS PRESIDENT: “Lawmakers, business executives and economists have all tried to warn President Trump that his trade policies could hurt growth. On Friday [6-7-19], the government reported that employers added just 75,000 jobs in May, a fact that will be hard for him to ignore. The increase was a far cry from what economists had expected and a fraction of the number of jobs created in April. The weakness was most evident in sectors that depend on exports, and analysts were quick to blame Mr. Trump’s tariffs on China and other countries. The new data from the Labor Department also increases the likelihood that the Federal Reserve will cut interest rates, and is the latest sign that the economy is slowing…The economy started the year strong, expanding by 3.1 percent in the first quarter, and the payroll figures don’t suggest that a downturn is imminent. The current recovery has defied recession predictions several times, and this month it tied a record for longevity with the boom of the 1990s.”
–Nelson D. Schwartz, “A Weak Jobs Report Poses a New Challenge to Trump: A Slowing Economy,” The New York Times online, June 7, 2019