The Prague Post - Everything is fine: Trump's cabinet shrugs off shrinking economy

EUR -
AED 4.243791
AFN 81.465727
ALL 98.56612
AMD 443.453564
ANG 2.067995
AOA 1059.637125
ARS 1366.152552
AUD 1.769897
AWG 2.082875
AZN 1.960017
BAM 1.951516
BBD 2.33206
BDT 141.264748
BGN 1.954326
BHD 0.435731
BIF 3399.622304
BMD 1.155548
BND 1.478766
BOB 7.998509
BRL 6.34523
BSD 1.154954
BTN 99.328786
BWP 15.421277
BYN 3.779869
BYR 22648.741388
BZD 2.320027
CAD 1.569136
CDF 3324.51161
CHF 0.940102
CLF 0.028194
CLP 1081.950957
CNY 8.296546
CNH 8.298493
COP 4738.324697
CRC 582.216723
CUC 1.155548
CUP 30.622023
CVE 110.499326
CZK 24.801493
DJF 205.364123
DKK 7.458554
DOP 68.46596
DZD 150.454693
EGP 58.028383
ERN 17.33322
ETB 155.186484
FJD 2.589294
FKP 0.84981
GBP 0.85194
GEL 3.148856
GGP 0.84981
GHS 11.873314
GIP 0.84981
GMD 82.625007
GNF 10002.424007
GTQ 8.876435
GYD 241.641575
HKD 9.070648
HNL 30.217552
HRK 7.533598
HTG 151.146854
HUF 402.133075
IDR 18801.690886
ILS 4.04719
IMP 0.84981
INR 99.485694
IQD 1513.767919
IRR 48660.127749
ISK 143.600161
JEP 0.84981
JMD 184.350051
JOD 0.819244
JPY 167.310588
KES 149.290238
KGS 101.052748
KHR 4645.302775
KMF 491.685917
KPW 1039.999163
KRW 1574.769806
KWD 0.353632
KYD 0.962495
KZT 592.29451
LAK 25049.397163
LBP 103537.103101
LKR 347.763486
LRD 230.704971
LSL 20.591911
LTL 3.412033
LVL 0.69898
LYD 6.268847
MAD 10.541486
MDL 19.750809
MGA 5124.855846
MKD 61.539422
MMK 2425.440818
MNT 4139.713252
MOP 9.338878
MRU 45.840804
MUR 52.469699
MVR 17.801189
MWK 2006.031054
MXN 21.885386
MYR 4.901801
MZN 73.897846
NAD 20.591519
NGN 1783.195282
NIO 41.942797
NOK 11.454482
NPR 158.926457
NZD 1.906354
OMR 0.444302
PAB 1.154974
PEN 4.162859
PGK 4.763049
PHP 65.479121
PKR 327.132781
PLN 4.273731
PYG 9213.69189
QAR 4.20677
RON 5.022239
RSD 117.199293
RUB 90.710938
RWF 1646.655943
SAR 4.335392
SBD 9.645811
SCR 16.956072
SDG 693.903807
SEK 10.964972
SGD 1.480633
SHP 0.908079
SLE 25.682086
SLL 24231.268649
SOS 660.400547
SRD 44.767129
STD 23917.511179
SVC 10.106162
SYP 15024.316209
SZL 20.592215
THB 37.557578
TJS 11.700465
TMT 4.044418
TND 3.377088
TOP 2.70641
TRY 45.504336
TTD 7.840854
TWD 34.037816
TZS 2991.924172
UAH 48.021533
UGX 4163.858378
USD 1.155548
UYU 47.227947
UZS 14710.126393
VES 118.058882
VND 30113.581662
VUV 138.566722
WST 3.179813
XAF 654.525673
XAG 0.031713
XAU 0.000341
XCD 3.122927
XDR 0.817273
XOF 652.884324
XPF 119.331742
YER 280.740559
ZAR 20.599666
ZMK 10401.315856
ZMW 28.00875
ZWL 372.085994
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Everything is fine: Trump's cabinet shrugs off shrinking economy
Everything is fine: Trump's cabinet shrugs off shrinking economy / Photo: Jim WATSON - AFP

Everything is fine: Trump's cabinet shrugs off shrinking economy

Contraction? What contraction? As far as US President Donald Trump and his cabinet were concerned on Wednesday all was well with the economy -- and with everything else.

Text size:

News that the US economy unexpectedly shrank amid the chaos of Trump's tariffs did not stop his top team taking turns to lavish praise on the president as they met at the White House the day after he marked 100 days in power.

In a nationalistic touch, red and black baseball caps with the embroidered words "Gulf of America" had meanwhile been placed in front of each senior official sitting around the huge wooden cabinet table.

Billionaire Elon Musk even put one of the red hats -- which use the name the administration has unilaterally decreed for the Gulf of Mexico -- on top of his own signature black baseball cap.

"Everybody is outstanding," Trump said during the marathon two-hour cabinet meeting in front of reporters. "I've never been so impressed."

- 'Unparalleled' -

The 78-year-old Trump began by trumpeting his core topic of migration, hailing what he said was an "amazing job" of cutting migrant crossings over the border from Mexico.

When it came to the economy Trump's main message was to insist on the success of his sweeping tariffs -- and to blame his Democratic predecessor Joe Biden for the economy contracting in the first months of the Republican's term.

The billionaire tycoon had promised during his 2024 election campaign to boost the economy and lower inflation, but figures released Wednesday showed US GDP contracted at an annual rate of 0.3 percent in the first quarter.

"It's a big ship to turn around, and we're going to have the greatest country, financially, in the history of the world," Trump insisted.

Trump then turned to Defense Secretary Pete Hegseth to his left, joking that he was "my least controversial person" -- despite the growing "Signalgate" scandal over Hegseth's use of the commercial app to discuss airstrikes against Yemen.

One by one, Trump's cabinet -- which contains the most billionaires of any president's top team -- then took turns to sing the praises of their leader.

Hegseth, wearing a camouflage tie, credited Trump with a "recruiting renaissance" in the armed forces. Commerce Secretary Howard Lutnick hailed "unbelievable" investment. National Security Advisor Mike Waltz -- also fighting for his job over Signalgate -- said the "world is far better and far safer" because of Trump.

Trump's chief of staff Susie Wiles said it was "100 days that's been unparalleled in my memory, and the best, I can tell, ever."

Scott Bessent, Trump's treasury secretary widely regarded as a stabilizing voice on tariffs, hailed Trump's leadership as "momentous."

The ever-combative Vice President JD Vance then launched into an attack on reporters in the room for "focusing on fake BS."

- 'Lot of hats' -

On it went, with Musk eventually taking his turn.

"Elon, I love the double hat," Trump said of the Tesla and Space X tycoon. "He's the only one who can get away with that."

"They say I wear a lot of hats. It's true -- even my hat has a hat," quipped Musk, who has been heading Trump's cost-cutting drive at the so-called Department of Government Efficiency in addition to running his businesses.

But it could also be one of Musk's last appearances around the cabinet table where he has previously been one of the star attractions.

Musk recently said he will start to take a step back from his cost-cutting role to focus on his Tesla electric car business, amid protests at his involvement in Trump's administration.

This time it was Trump's term to dish out praise.

"You've done a fantastic job," Trump said. "You know you're invited to stay as long as you want. At some point, he wants to get back home to his cars."

H.Dolezal--TPP