U.S. Senator Elizabeth Warren, representing Massachusetts, and serving as the Ranking Member of the Senate Banking, Housing, and Urban Affairs (BHUA) Committee, has expressed concerns about the current state of the American economy in light of the latest jobs report.
Warren emphasized that while the economy had recovered significantly from the COVID-19 pandemic, current policies are threatening this progress. She criticized actions under former President Donald Trump's administration, stating, "The American economy recovered from a once in a century pandemic and unemployment fell to its lowest rate in decades. Now, Donald Trump’s chaos and bad economic policy is setting the stage for businesses to slash investment and jobs."
She pointed out that despite the new jobs data, the stock market remains unstable. "Today's report had no impact on the tanking stock market – investors are still confused and consumers have no confidence," she said.
Warren highlighted several economic indicators, noting that job openings are decreasing, hiring is slowing, and unemployment claims have surged to the highest levels seen in nearly four years. She attributed these negative trends to what she describes as damaging policies, including Trump's tariffs and administrative actions with co-president Elon Musk. Warren warned, "It is clear that Trump’s massive tariffs and his gutting of the federal government with co-president Elon Musk will only mean more economic turmoil that the American people cannot afford."
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