Despite their initial reluctance, several Fox News hosts and a former economic adviser to Donald Trump have reluctantly acknowledged a singular truth: four years after the onset of the COVID-19 pandemic, the economy is thriving under President Joe Biden. Larry Kudlow, speaking on Fox Business, candidly admitted, “I was wrong about the slowdown and the recession.”
On Friday’s episode of “The Last Word” on MSNBC, Ali Velshi began by playing a clip of a conversation between Maria Bartiromo and Trump.
The former president credited the recent economic growth to those who “think I’m going to be elected.” Velshi, expressing disbelief, remarked, “You know that makes no sense at all, right? That the stock market would be rallying in February because Donald Trump might be elected in November and take office almost a year from now.”
Velshi then showcased a compilation of Fox News hosts grappling with the economic reality. One host acknowledged that “people are outspending” and criticized the economic messaging from the RNC. Another posed the question, “Does America have the best recovery?” with the answer being a resounding “Well, yes.”
To add a touch of humor to the discussion, Velshi interviewed Jared Bernstein, a former economic policy adviser to then-Vice President Biden. Bernstein quipped, “First of all, I want to say it’s possible the stock market’s up because they knew I was coming on your show tonight.”
Acknowledging the honest assessments of a robust economy, Bernstein praised those recognizing the strength. He highlighted the rarity of unemployment staying below 4% for two consecutive years, a streak unseen since the 1960s.
Velshi further broke down the current situation for most Americans, emphasizing that inflation had initially outpaced wages but has now reversed. Coupled with job creation and low unemployment, this has instilled a sense of security among many.
Reflecting on the shift in consumer confidence, Velshi explained, “People talk to one another about it, and they talk about it on Fox News, and then people realize that they’ve been hoodwinked a little bit.
In reality, a year ago, there was some concern about a recession, and it was widespread. It wasn’t weird conservative talking points. But now people are understanding that the talking points don’t match the reality in the economy.”
