President Donald Trump was handed a world-class economy, and has thrown it all down the drain over his war in Iran, Veda Partners economic analyst Henrietta Treyz told MS NOW’s Katy Tur on Monday afternoon.
This comes as Trump lashes out at the news media for what he perceives as unfair news coverage over how the war is going — even as analysts warn it’s not in fact going well.
“Henrietta, get us started on the economy,” said Tur. “Dow is back down today as the Strait of Hormuz is not reopened. Gas prices are up and people are not experiencing the economy that Donald Trump says he is selling.”
“It’s pretty amazing when you think about what the president inherited,” said Treyz. “We were coming off of continuous prosperity, lowering inflation, prices coming down, growth in the manufacturing sector. I mean, even with the Ozempic boom, airlines were planning to save hundreds of millions of dollars on just jet fuel because people weighed less. I mean, there was literally nothing you could do to stop the economy under the AI boom and all the rest. And now here we are.”
“We’re not just dealing with jet fuel,” Treyz continued. “Price surges up 95 percent, but now we have outright shortages. So across Asia, there are halted flights. They have three-day work weeks because they’re trying to conserve fuel. That’s moving over to the EU and the United States; we are feeling that pain too … Airplane prices are up $200 on flights, and some are just being canceled altogether. Food inflation is the next shoe to drop. Everything that takes diesel or gasoline to move, whether it’s, you know, everything you buy at Walmart or your groceries from the store, all that is still to come and to get more expensive.”
“So the long-term cost of this war, especially when you’re judging it by the economy that the president was handed, is really just depressing to think about the growth that we could be under,” Treyz added. “Instead, we’re dealing with rising inflation again, the Fed can’t cut interest rates. It’s a bummer.”
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