Overview

• Commerce Secretary Howard Lutnick told Axios the economy President Trump “owns” begins at the end of this year, revising earlier assertions that it had already arrived.
• Lutnick reiterated bullish forecasts on CNBC, predicting more than $10 trillion in factory construction, record construction employment in the first quarter of next year, GDP growth above 4%, and prospective trade deals.
• He also said a resolution on Fannie Mae and Freddie Mac could lead to taking the company public, framing it as a potentially record IPO, though no deal has been announced.
• Recent reports cited to Lutnick show inflation rising again and initial jobless claims at multi‑year highs, with manufacturing contracting for months and unemployed workers outnumbering openings.
• The timeline shift drew ridicule online, and Politico reporting relayed by outlets says White House aides concede voters aren’t feeling improvements, with advisers warning the political team is increasingly nervous about the perception gap.