Steve Rattner

Former head of Obama Auto Task Force. Wall Street financier. Contributing Writer to NY Times Op-Ed. Morning Joe Economic Analyst. 🌐

[Steve Rattner @SteveRattner]

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[Steve Rattner @SteveRattner]

Companies associated with Trump's sons have received $1 billion and counting in government contracts since he returned to office.

We've never seen anything like this coming out of the White House.

📸: @MSNOWNews @Morning_Joe

[Steve Rattner @SteveRattner]

The median home price reached an all-time high last month in nominal terms: $440,600.

But in today's dollars, prices actually peaked in June 2022 and are down 6% since.

[Steve Rattner @SteveRattner]

Under Trump, pardons have a price, and criminals know it.

Trump has erased a growing number of criminal convictions – and $1.5 billion in penalties and restitution owed to taxpayers and victims – for his donors and friends.

My @Morning_Joe Chart

[Steve Rattner @SteveRattner]

The emoluments clause is supposed to prevent the President from receiving foreign bribes.

That hasn’t stopped Trump’s family from receiving about $13 billion in “investments” from foreign governments, especially in the Middle East.

My @Morning_Joe Chart

[Steve Rattner @SteveRattner]

Jared Kushner & Trump's sons have raised $13 billion from foreign governments, mostly in the Middle East.

At the same time, Kushner serves as Special Envoy to the region, negotiating with the very countries with which he's financially conflicted.

📸: @MSNOWNews

[Steve Rattner @SteveRattner]

World Liberty Financial has been the biggest crypto cash cow for the Trumps.

It follows a familiar “pump-and-dump” pattern that delivered $1.1 billion for the family.

My @Morning_Joe Chart

[Steve Rattner @SteveRattner]

Reuters analysis found that the Trumps have raked in $2.3 billion from 4 different crypto ventures.

Through the same schemes, their investors lost $2.3 billion.

My @Morning_Joe Chart

[Steve Rattner @SteveRattner]

The Trumps aren’t just using their family name to make money.

Their companies have received almost a billion $$ in federal contracts – a shocking and unprecedented display of corruption.

My @Morning_Joe Chart

[Steve Rattner @SteveRattner]

Trump has given up on any of the financial restraint he exercised in term 1.

This term, he’s more than doubled his net worth to $6.5 billion, largely through crypto schemes and Truth Social.

My @Morning_Joe Chart

[Steve Rattner @SteveRattner]

Every day brings new revelations about the Trump family’s financial “success” in office.

Today on @Morning_Joe, I’ll run you through the various ways the Trumps are using the Presidency for profit.

[Steve Rattner @SteveRattner]

Exports fell in May, but the bigger story for the trade deficit is the relentless rise in imports — up five straight months to $395 B.

That's likely to weigh on GDP growth: the AI boom is proving to be highly import-intensive, with capital goods imports hitting a record $128 B.

[Steve Rattner @SteveRattner]

The U.S. trade deficit rose by over 40% last month, reaching $77.6 billion.

That's the largest since March 2025 and higher than the monthly average during Biden's term.

Trump's tariffs have failed to make a dent.

[Steve Rattner @SteveRattner]

Job growth has been uneven since Trump's reelection.

The Sun Belt has continued to boom while the DC area has been hit hard by DOGE cuts.

The industrial (and agricultural) Midwest is also struggling from the fallout from tariffs and the Iran War.

[Steve Rattner @SteveRattner]

The low overall unemployment rate of 4.2% doesn't tell the full story. Black unemployment is now at 6.6% (up from 6.2% when Trump took office).

The rate has declined from its 8.2% high last fall — but only because nearly a million Black workers left the labor force.

[Steve Rattner @SteveRattner]

Ironically, most job creation since Trump's re-election has gone to women, who've gained 1.6 million jobs.

Men, by contrast, have lost nearly 500,000.

[Steve Rattner @SteveRattner]

Since President Trump's re-election, the vast majority of job growth has been in health care and education.

Despite promises to re-shore industry through tariffs, over 100,000 manufacturing jobs have been lost.

[Steve Rattner @SteveRattner]

Labor force participation has fallen to 61.5% — the lowest since 2021, erasing the entire post-pandemic recovery.

Since Trump's inauguration, over a million people have left the job market — which explains part of the reason the unemployment rate dropped last month.

[Steve Rattner @SteveRattner]

Unemployment ticked down to 4.2% in June, but it fell for the wrong reason.

Labor force participation dropped to 61.5%, the lowest since 2021. People aren't finding jobs — they're quitting the job market all together.

[Steve Rattner @SteveRattner]

The June jobs report was worse than expected.

Employers added just 57,000 jobs — the weakest in months and less than half the early-spring pace.

[Steve Rattner @SteveRattner]

Wage growth is down compared to last year just as inflation is spiking. That means workers' real wages are shrinking.

To restore purchasing power, Trump and the Fed must act to reign in the price spike caused by the Iran War.