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U.S. real GDP growth under Trump was substantially below that achieved by other presidents. [240] Trump presided over the slowest economic growth of any U.S. president since the Second World War, partly due to the COVID-19 pandemic that triggered a brief recession and a 2.2% decline in real GDP growth in his last year.
For Trump, this economy looks like a mirror image of the one he inherited in 2017. At the start of his first term, there was plenty of room to grow, and the cyclical momentum was turning up.
Similarly, business failures and stock market prices tend to be countercyclical. In finance, an asset that tends to do well while the economy as a whole is doing poorly is referred to as countercyclical, and could be for example a business or a financial instrument whose value is derived from sales of an inferior good.
Trump’s focus on the economic downside was typical for a presidential challenger and fair enough. But he was wrong to suggest that our competitors were eating our lunch.
The supposedly business-friendly president publicly attacked a number of companies, some because he perceived a personal offense, others because they were moving jobs overseas or acting too "woke ...
Trump released a list of his campaign's official economic advisers in August 2016, [5] [6] [7] which was significantly anti-establishment [8] and therefore included few people with any governmental experience, [9] yet at the same time aimed to include some of the elites of business and finance, [5] primarily people with well-known names.
The stock market has enjoyed a strong rally since President-elect Donald Trump won reelection on Nov. 4, 2024, with the S&P 500 rising roughly 6% in a matter of weeks. But the "Trump economy"...
When Trump slapped tariffs on China in 2018 and 2019 and threatened many other countries during his first term, Bullard added, the trade war created uncertainty globally, and that caused ...