President Donald Trump is making a huge mistake campaigning on the economy -- an economy that’s projected to have expanded well over four percent at least in the fourth quarter of 2025. At least, that’s the newest hot take being blurted into cyberspace by CNN.
CNN Business Senior Writer Allison Morrow, who’s developing quite the reputation for mastering the art of incoherence, published yet another example of brain-dead anti-Trump screeds January 28, “Trump wants to refocus voters’ attention on the economy. He might regret it.”
Yes, that's a real headline. So what exactly — pray tell — should Trump talk about before the midterms then, eh Morrow? She didn’t say. Morrow took aim at Trump's alleged whining about “how unfair it is that not everyone agrees with him about how great his economy is. And maybe that’s because this economy makes no sense.”
No, what actually “makes no sense” is the logic she’s employed to castigate the Trump economy. Just a couple of days ago, Morrow once again butchered common sense by alleging that Trump’s economic agenda “could work” but would still somehow hurt Americans. Yeah, we couldn’t make sense of that either.
Just reading how Morrow described the Biden economy as far back as July 2024 showcases how incredibly dumb she treats her readers: “We did it, y’all! Get the Champagne on ice and gather the townsfolk because America hath slain the beast known as inflation. (Or, at least, it’s hit a turning point.)” Cue the canned laughter.
At that time, the Consumer Price Index for all items year-over-year was sitting at 3.0 percent, 0.3 points higher than the current rate under Trump at 2.7 percent. In her mind, prices declining a paltry 0.1 percent a month-to-month basis at the time meant we knocked out inflation. Her headline for that story was glorious, “You might have just missed Earth-shattering economic news.” Yeah, that media spin probably rises to the level of sensationalistic “news cum” excoriated by comedian Jon Stewart when the infamous Mueller probe turned out to be a nothing burger. As Stewart concluded, "And if anything is going to kill our democracy, it's gonna be news cum."
Oh but for Morrow now, “the economy isn’t exactly the feel-good story he seems to think it is.”
One element Morrow zeroed in on was the weakening of the U.S. dollar and the rise in gold and silver prices, which she argued “The dollar’s rapid depreciation signals that investors around the world are reducing their exposure to US policy volatility. That’s why silver and gold have been notching back-to-back record highs.”
What she didn’t mention is that investors are already betting on Trump running the economy “hot” into the midterm elections on expectations of strong economic growth, according to The Financial Times. And, to her argument’s detriment, Trump’s new pick of former Federal Reserve Board governor Kevin Warsh to succeed chairman Jerome Powell two days after Morrow’s piece was published has sent gold and silver prices plunging for their "biggest slide in years" according to Bloomberg News.
Not only that, but economist Daniel Lacalle also observed in a January 29 X post that “Relative dollar weakness is not a signal of loss of reserve status among fiat currencies, as there is no crossover nor substitution, just a reflection of an expansionary economic cycle.” In effect, Morrow’s kvetching is really just another much ado about nothing, as he tacitly implied, “A weak dollar isn’t inherently a bad thing — it can make US exports more competitive, giving domestic manufacturers a boost. But that’s not quite what’s happening here.” Or is it? Depends on who you’re talking to.
Relative dollar weakness is not a signal of loss of reserve status among fiat currencies, as there is no crossover nor substitution, just a reflection of an expansionary economic cycle. Meanwhile, gold's strength signals the generalized loss of confidence in all fiat currencies.… pic.twitter.com/Sao5zJghc9
— Daniel Lacalle (@dlacalle_IA) January 29, 2026
She also tried to dump on Trump’s record on manufacturing, “US manufacturing — the sector Trump campaigned on propping up — has been steadily contracting, losing some 63,000 jobs on a seasonally adjusted basis last year.” Interestingly, Morrow didn’t mention that U.S. steel production just recently surpassed Japan for the first time since 1999, riding on a 3.1 percent rate increase in crude steel output to 82 million tons and putting the country third place overall behind China and India globally. But by Morrow’s account, Trump shouldn’t bring up such things to the public.
