The New York Times recently published an article by Neal Irwin "The Most Important Least Noticed Economic Event of the Decade." Irwin points out that between 2015-16 there was a sharp slowdown confined to the energy and agricultural sectors. This slowdown also affected manufacturers who are related to those sectors (like Caterpillar.) The Federal Reserve tightened its monetary policy in 2015, which led to a slowdown in economic growth. This slowdown, however, was felt mostly in the interior of the country; the coasts were unaffected. It could still explain why "middle America" voted for Trump.
According to a new study by the Federal Reserve show that Trump's trade wars have caused further losses in factory jobs. Not the result Trump promised. Trump's tax cuts at the same time, have only produced a stock market bubble which will eventually burst. All bubbles will burst: you don't need a degree in economics to know that.
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