How and why is President Donald Trump hurting US economy? - letsdiskuss
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Sher Singh

Social Activist | Posted on | News-Current-Topics


How and why is President Donald Trump hurting US economy?


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Entrepreneur | Posted on


I don’t think President Donald Trump his hurting US economy directly. While his social oomphs and foreign policies sure are playing a negative role for the financial market in many dimensions (like trade war with China), he hasn’t yet taken any drastic measure to hurt the economy of the states directly.


That aside, it doesn’t mean he’s an economic novelty—or, for that matter, understands anything about the market. Sure, he can do a lot to make things worse. For instance, the ongoing partial government shutdown is sure not a very good news for the market. President Donald Trump has even treated to extend the shutdown until his proposed border wall against Mexico gets funding from the Congress. This is, in many ways, hurting the market. On Christmas Eve, S&P 500 fell 2.7 percent, a drop in US stocks by 20 percent since the September peak.


Letsdiskuss (Courtesy: Deadline)


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In addition, President Donald Trump continues to threat firing Fed Chair Jerome Powell. He has been on offensive against Fed since the beginning of his tenure, accusing the Institute of not working in favour of the Americans. Such threats put a great uncertainty for the US economy.


Only recently the central bank decided to lift interest rates for the fourth time this year, much to the unhappiness of the President. The forecast expects a 2.3 percent growth for the next year and two more possible hikes in Fed interest rate in 2019. If Trump does decide to fire Jerome Powell, he could put such favourable forecasts at jeopardy. (Although a White House official has said that there’s virtually no chance the head of US Federal Reserve can lose his job.)


(Courtesy: Vox)


But back to your question, President Donald Trump, as of yet, hasn’t done much directly to hurt the US economy. So, your question falls void. However, unless he is impeached soon – something #NotMyPresident rallying bunch has been demanding ferociously – there’s a good chance he might do some serious damage to the economy and the global financial market.


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