Fed Chair Jerome Powell met with President Trump on Thursday in the White House. Image from previous Powell presser. This won’t make many headlines but – Americans woke up to a slew of incredibly positive economic news. From the Trump White House: “This is a GREAT four-month start to any year,” exclaimed CNBC’s Rick Santelli as brand new economic indicators show inflation is down, incomes are up, and the trade deficit is narrowing — shattering economists’ expectations once again. INFLATION IS DOWN: “Inflation rate slipped to 2.1% in April, lower than expected, Fed’s preferred gauge shows,” CNBC reports. INCOME IS UP: Personal income increased 0.8% in April — “almost TRIPLE the expectations.” “They’re powerful numbers — up 0.6% in January, up 0.7% in February, up 0.5% last month, up 0.8% this month….
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