The White House is claiming victory on the economy after two solid reports, but experts warned the data masks deeper vulnerabilities.
Inflation came in surprisingly soft on Friday, just after a labor market report showed higher-than-expected growth.
Axios deemed it “the Goldilocks economy — neither too hot nor too cold, so long as you don’t focus on the details.”
Indeed, the jobs figures showed health care accounted for much of the growth, while spending data pointed to a widening “K-shaped” economy, in which lower-income households are struggling while those with higher incomes spend more.
Polls show public attitudes about the economy have yet to match US President Donald Trump’s optimistic assessment, a dynamic that also beset his predecessor, Joe Biden.