Former President Donald Trump has sparked surprise after reportedly asking America's leading chief executives for advice on tackling the nation's affordability crisis during a private dinner at the White House.
A High-Profile Gathering and a Startling Request
The event, held on Wednesday, brought together the heads of some of the world's most powerful financial institutions, including JPMorgan Chase, BlackRock, Goldman Sachs, and Nasdaq. According to reports, Trump dedicated significant time to the issue of affordability, questioning the assembled business leaders on potential market-based solutions.
While the president avoided using the term 'crisis'—a label frequently employed by his Democratic opponents—his line of questioning was seen as a clear acknowledgement of the financial pressures facing American consumers. One attendee told The New York Post that Trump 'spoke a lot about affordability and what we can do from a market perspective to address it.'
Ambitious Growth Forecasts and Private Doubts
Alongside his request for guidance, Trump made an ambitious economic prediction, boasting that his policy agenda—which includes the implementation of sweeping tariffs—could fuel US economic growth to an unprecedented 'between five and six percent.'
This forecast stands in stark contrast to more conservative estimates from financial experts. A recent Goldman Sachs report, for instance, projected average potential GDP growth at just 2.1 percent for the period of 2025-2029.
The bold claim was met with private scepticism from those in the room. Another CEO present at the dinner expressed hope that the president was correct but confessed, 'I don't see how we get there.' The executive went further, suggesting a potential reason for the disconnect, stating, 'His people are worried as well particularly about affordability but they won't tell him. He's surrounded by a lot of 'yes men.''
White House Response and Economic Context
When contacted, a White House official defended the president's engagement with the private sector, stating he 'has been focused on reversing the economic crisis he inherited from Joe Biden since day one.' The official characterised the dinner as part of Trump's 'constant partnership with leaders in the private sector' to drive his pro-growth agenda.
The high-profile meeting occurred against a backdrop of economic uncertainty, compounded by the recently concluded federal government shutdown. Experts had warned that the record-length closure would leave a 'lasting mark' on the economy.
Gregory Daco, chief economist at EY, noted that the disruptions to welfare programs and travel were significant. The Congressional Budget Office estimated the shutdown would permanently wipe out roughly $11 billion in economic activity, highlighting the challenging landscape confronting policymakers.
