Jason Furman chaired the Council of Economic Advisers during the Obama era. During an interview with CNBC on Friday, the former Obama adviser revealed that wages are rising the fastest for the poor, not the rich.
“One hypothesis is a lot of slack in the economy, I don’t see that,” Furman began when asked by the CNBC host what factors are impacting economic growth.
“Another hypothesis is a lot of inequality in the economy,” the expert continued.
Then he dropped the bombshell: “You are actually seeing faster wage growth at the bottom than at the top, so I don’t see (widespread inequality) either.” – READ MORE
[divider][/divider]Democrat Congresswoman Maxine Waters claimed over the weekend that former President Barack Obama — and not the current President Donald Trump — deserves credit for the economy doing so well.
On Friday, Trump touted the U.S. gross domestic product hitting 4.1 percent during the second quarter for the first time since 2014. He also stated the nation is on track to achieve its highest annual GDP in 13 years.
The president also pointed out that unemployment claims are at their lowest number since 1969, while the unemployment rate among African-Africans, Hispanics, and Asians reached their lowest levels ever recorded.
For the first time in U.S. history there are more jobs available than unemployed Americans.
Appearing on MSNBC on Sunday, Waters was asked about the impressive numbers the president rattled off.
“Of course, the economy has improved, and of course he would like to take credit for all of that,” the Californian said. – READ MORE
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