Is Trump Doing A Good Job With The US Economy? President Graded On Jobs, Wages, GDP, Wall Street During Coronavirus

President Trump’s handling of the economy has been downgraded to a "C" amid the ongoing coronavirus crisis, according to the Yahoo Finance Trumponomics Report Card. During most of the Trump presidency, it was a “respectable” B grade.

The report card uses data from Moody’s analytics and tracks six economic indicators: total employment, manufacturing employment, average hourly earnings, exports, the S&P 500 stock index and GDP per capita.

The report card says Trump’s strongest areas are average hourly earnings, GDP per capita and the S&P 500 stock index. The report claims employers are unlikely to cut pay during the coronavirus outbreak, while the stock market has largely recovered from its March lows. GDP per capita was strong for most of the first quarter, but will likely decrease as the crisis continues.

Although Trump inherited a strong economy, unemployment increased to 14.7% in April and will likely increase in the coming months. The U.S.-China trade war has also weighed on exports. Manufacturing jobs will also be lost in the coming months, the report suggests, and Trump’s report card grade could drop even further to a D.

Federal Reserve Chairman Jerome Powell said in a CBS “60 Minutes” interview Sunday that the U.S. economy would only recover fully if an effective coronavirus vaccine is discovered.

“Assuming there’s not a second wave of the coronavirus, I think you’ll see the economy recover steadily through the second half of the year,” he said, but added that “for the economy to fully recover ... that may have to await the arrival of a vaccine.”

Treasury Secretary Steven Mnuchin said in a late April interview with Fox News that the U.S. economy would swiftly “bounce back” from the coronavirus crisis over the summer.

"This is not the financial crisis," Mnuchin told Fox News host Chris Wallace at the time. "This is a scenario where we've closed the economy. And we are going to open the economy."

The U.S. has the most cases of coronavirus in the world. As of Sunday at 2:25 p.m. ET, there are 1,477,815 coronavirus cases with the death toll at 89,023.