Economist Stephen Moore argued on Newsmax, Friday, that a record jump in the Federal Reserve Bank of Atlanta's GDPNow estimate shows the economy is surging despite last fall's federal shutdown.
He blamed Senate Minority Leader Chuck Schumer, D-N.Y., for what he said was even faster growth that did not show up in the tracker.
Moore said on "The Chris Salcedo Show" that 2025 fourth-quarter economic growth was "remarkable" and would have been stronger "if it hadn't been for Chuck Schumer's shutdown."
He added, "We probably would have grown to 6%."
Moore's comments came as the Federal Reserve Bank of Atlanta's GDPNow model posted a sharp upgrade for fourth-quarter 2025 growth. The Atlanta Fed said its GDPNow estimate was 5.4% on Jan. 8 and 5.1% on Jan. 9.
The revision followed delayed government data releases after the 43-day lapse in federal funding, from Oct. 1, 2025 through Nov. 12, 2025, which the Bureau of Labor Statistics said disrupted key economic data collection.
On Nov. 12, the House passed the Senate's revised bill, which President Donald Trump signed the same day. The shutdown, which lasted 43 days, was the longest in U.S. history.
A major driver behind the GDPNow swing was trade data that suggested a much narrower deficit.
The Commerce Department's October trade report, delayed by the shutdown, showed the overall U.S. trade deficit plunging to $29.4 billion, the lowest since 2009, as imports fell 3.2% to $331.4 billion and exports rose 2.6% to a record $302.0 billion, Reuters reported.
Moore pointed to what he described as broad strength, saying inflation was down and employment was "good," and he cited "record high stock markets."
He also said the Dow was approaching 50,000 for the first time, a milestone that has been in view after the index closed above 49,000 this week.
Moore said the growth rate reflected "very sensible Trump economic policies" that he described as "putting America first" and "pro-business," and he credited a major tax package he called the "big beautiful tax bill" as part of the backdrop for the performance.
"So we have an economy that is hitting on all cylinders. Inflation is down, and employment is good," Moore said. "We've got record-high stock markets.
"The Dow is about to hit 50,000 for the first time ever. And this is really a result of just very sensible Trump economic policies putting America first — pro-business."
"I mean, these things are working, and it just makes you proud to be an American."
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Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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