Summary

Commerce Secretary Howard Lutnick blamed Biden for weak economic data, citing February’s 77,000 job gain (vs. 186,000 in January), a 7-point drop in consumer confidence, and the Atlanta Fed’s Q1 GDP forecast falling from +2.3% to -2.8%.

He dismissed concerns over Trump’s tariffs on Canada and Mexico and proposed excluding government spending from GDP, a move criticized by economists.

The Dow fell 1,300 points in two days, signaling investor uncertainty.

The administration also disbanded economic advisory committees, raising concerns about data transparency and policy direction.