Just How Solid is the Trump Economic Boom?
It’s not hard to demonstrate all the soft spots in the economy that Trump keeps bragging about. What’s hard is to predict the political effect. Normally, incumbent presidents get re-elected when the economy is strong. A Yale economist named Ray Fair has even reduced this tendency to a mathematic model, with surprisingly good predictive power. But this is neither a normal president nor a normal economic boom. For starters, though wage growth is finally ticking upward, ordinary workers have nothing [...]