Trump’s Midterm Economy, Graded

CEI Senior Economist Ryan Young was quoted in The Dispatch regarding the GDP growth and its reflection of the economy.

On October 6, the S&P 500 closed at 7,819, its 28th record close of the year, and—after recovering from a roughly 9 percent drop in March following the outbreak of the Iran war—has hovered near record highs for most of the year. But most of its recent growth can be traced to the performance of a few major tech companies, namely Nvidia, Microsoft, Apple, and Meta.

Ryan Young, senior economist at the Competitive Enterprise Institute, said that you see the same concentration in the wider economy, where much of the above-average GDP growth is coming from AI and data centers. “While growth is above average, there’s that cautionary factor,” he told TMD. “Is that reason for net optimism or net pessimism? I’m not sure. There’s the case for both.”

Read more in The Dispatch.