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Trump Accused of Causing Self-Inflicted Economic Downturn

8/27/2026

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Summary

Story summary

U.S. President Donald Trump has been accused of causing a self-inflicted economic downturn.
Treasury Secretary Scott Bessent rejected claims that Trump deliberately harmed the global financial system.
30-year Treasury bond yields hit a 19-year high, prompting debt buybacks.
July data showed U.S. retail sales fell for the first time in nine months and job losses rose.

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Story summary

U.S. President Donald Trump has been accused of causing a self-inflicted economic downturn.
Treasury Secretary Scott Bessent rejected claims that Trump deliberately harmed the global financial system.
30-year Treasury bond yields hit a 19-year high, prompting debt buybacks.
July data showed U.S. retail sales fell for the first time in nine months and job losses rose.