[amradio1989]

Not to pile on, but there is a huge public misunderstanding when it comes to economic data.

The data is lagging, usually by a full year. The policies that lead to that data are from the year before data collection, at a minimum, more likely two+ years.

Economic policies generally take time to ripple through the economy. Generally. There are exceptions. Interest rates tend to affect things pretty quickly relative to other changes.

[spwa4]

So it was the effect Trump's first term then?

[amradio1989]

The period covers March24-March25. Two years prior to March24 is March22. It would have been the 2nd year of Bidens presidency.