President Donald Trump appeared to hint at weaker-than-expected economic numbers in a typo-laden social media post early Friday, Feb. 20, 2026. He alluded to sluggish GDP results about 40 minutes before they were officially published while taking another swipe at Federal Reserve Chair Jerome Powell.
“LOWER INTEREST RATES. ‘Two Late’ Powell is the WORST!!!” Trump wrote on Truth Social at 7:50 a.m. ET, seemingly misspelling his usual “Too Late” nickname for Powell. His post came just as the Commerce Department was preparing to release fourth‑quarter figures showing growth had slowed sharply to only 1.4%.
The president also blamed Democrats for the slowdown, saying the shutdown “cost the U.S.A. at least two points in GDP” and warning against any future funding standoffs.
When the data was published at 8:30 a.m., it confirmed Trump’s hint. The economy grew at an annualized rate of 1.4% in the last quarter of 2025, a steep drop from the previous quarter’s 4.4% and far below expectations of 2.5% to 3%. The drop amounted to a 3‑point decline quarter‑to‑quarter.
The early leak marked at least the second time Trump has shared economic data prematurely. OMB rules forbid executive branch officials from commenting on such statistics before release and bar public remarks for 30 minutes afterward. In January, Trump indirectly previewed upcoming payroll figures, leading the White House to acknowledge an “inadvertent public disclosure of aggregate data.”
The poor GDP result undermined Trump’s economic narrative just days before his State of the Union address on February 24. The president has repeatedly claimed credit for a supposedly “booming” economy, even telling a Georgia audience Thursday that he had “solved” affordability challenges.
The economic slowdown was partly caused by the record 43‑day government shutdown that began Oct. 1 and lasted until mid‑November. The Bureau of Economic Analysis estimated the shutdown reduced real GDP by about 1 point, while the Congressional Budget Office projected it could shave off up to 2 points.
But the shutdown wasn’t the only factor. Consumer spending — a major driver of U.S. growth — rose just 2.4% in Q4, down from a strong 3.5% in Q3. The dip suggests households are feeling financial strain despite the administration’s optimistic rhetoric.
Joel Kan, vice president and deputy chief economist at the Mortgage Bankers Association, warned that higher‑income earners continue to fuel most spending, while lower‑income Americans face growing pressure from rising costs and elevated debt.
Adding to the administration’s headaches, another Commerce Department report showed inflation increased in December. The PCE price index rose 2.9% year‑over‑year, nearly a full percentage point above the Fed’s 2% target. With inflation still high, Powell is unlikely to cut interest rates at the pace Trump wants.
The political timing is particularly tough for Trump. His approval rating fell to 38% in the most recent Reuters/Ipsos poll, down from around 50% when he took office in January 2025. Consumer confidence dropped 9.7 points to 84.5 in January 2026, its lowest level since May 2014 and even weaker than during the COVID‑19 downturn.
The economy grew 2.2% overall in 2025, down from 2.8% in 2024. Despite continued expansion, employers created only 181,000 jobs during the year — the smallest gain for any non‑recession year since 2003. Unemployment stood at 4.3%.
White House spokesperson Kush Desai tried to cast the numbers positively, claiming GDP growth “smashed” forecasts and crediting the president’s agenda — including tax cuts, deregulation, and tariffs — with setting the stage for stronger growth in 2026.
Some indicators did point to underlying resilience. Real final sales to private domestic purchasers — a measure of consumer and business activity — increased 2.4%, consistent with post‑pandemic recovery patterns. Budget Lab executive director Martha Gimbel called both business and consumer activity “reasonably solid,” noting, “This is not a disastrous report.”
Federal Reserve minutes from its January meeting showed officials are increasingly cautious about cutting rates this year. Some even suggested hikes could be necessary if inflation persists. Chris Zaccarelli, chief investment officer at Northlight Asset Management, said the combination of weak growth and sticky inflation is widening the gap between Fed hawks and doves.
As Trump prepares for his State of the Union address, he must explain why the economy has slowed sharply during his presidency while inflation remains stubborn. His Friday morning post — typo and all — signaled he is aware that the economic data presents political risks heading into the midterm cycle.
