The United States may have to "deal with some short-term pain to get to long-term gain" with the economy to stabilize matters left behind by the Biden administration, Danielle DiMartino Booth, the CEO and chief strategist for QI Research told Newsmax on Wednesday.
"It's not so much what I think; it's what two-thirds of the American public has voiced, and that is that they see the unemployment rate rising in the next 12 months," Booth told Newsmax's "Rob Schmitt Tonight."
"The Biden administration left the U.S. economy on a much weaker footing than what most in the media portrayed it to be," she added. "We are seeing that truth come out."
Booth's comments come after the Federal Reserve announced earlier in the day that it expects the economy to grow more slowly this year and in 2026 than it was growing three months ago.
The Fed forecast growth will fall to 1.7% in 2025, a dip from 2.8% last year, and by 1.8% in 2026, and that inflation will grow slightly to 2.7% by the end of this year from the current level of 2.5%. Both levels remain above the central bank's target of 2%.
Booth told Schmitt that history has been "rewritten with every downward revision that we've seen to payroll growth that's coming out, starting in 2023 and 2024."
However, she said she has "faith in the current administration as well as the wisdom of Treasury Secretary Scott Bessent" to work toward the "long-term prosperity of hard-working Americans and putting this country on more stable footing."
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Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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