Thursday, January 11, 2018

The Trump Economy, Explained

Thank you, President Trump?
Asked to rate Mr. Trump’s policies and actions to date, a majority of economists said he had been somewhat or strongly positive for job creation, gross domestic product growth and the stock market. Most also said he had been either neutral or positive for the country’s long-term growth trajectory, while his influence on financial stability was seen as largely neutral.

“There is definitely a sense in the business community that the president’s actions on taxes and regulations have led to a more pro-growth environment for them to operate,” said Chad Moutray, chief economist at the National Association of Manufacturers.

Still, it is early yet to evaluate Mr. Trump’s performance. He inherited an economy that had already experienced years of falling unemployment and durable if slow growth.

“We have to be cautious about giving Trump too much credit for the economy’s strength,” said Bernard Baumohl of the Economic Outlook Group. “Job creation and business capital spending were on the rise prior to his presidency. The jury is still out how much more his actions moved the economy forward.”
The jury may be out, but they seem to be close to a unanimous verdict...

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