US Economy Fails to Deliver 'Golden Age' as Eurozone Surpasses Growth Expectations

The US economy has failed to meet President Trump's promise of a 'Golden Age,' according to recent data. The eurozone outpaced the US in the June quarter, growing at an annualised rate of 1.8% compared to the US' 1.5%. Canada's economy grew at an impressive 3.4%, despite being hit hard by Trump's tariffs.

The continued war in the Middle East and global trade tensions have weighed on the US economy, with inflation remaining above the Federal Reserve's target of 2%. The PCE index fell 0.1% in June to 3.7% higher than last year, while core PCE inflation was 3.3%. Oil prices have also increased, with gasoline and diesel prices remaining well above pre-war levels.

Trump has repeatedly promised a 'Golden Age' for the US economy, but his policies have failed to deliver. The administration's deregulation efforts and trade barriers have had little impact on growth, while real wages for US workers are declining and manufacturing sector jobs have shrunk.