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President Trump And The Economy46:47
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The economy and Donald J. Trump. He ran on jobs and big growth. So, how will he do it? Can he do it?

A man is reflected on a glass as he reads a Chinese newspaper with a photo of U.S. President-elect Donald Trump, displayed on a newspaper board in Beijing. The headline reads "President Donald Trump delivers a mighty shock to America." (Andy Wong/AP)
A man is reflected on a glass as he reads a Chinese newspaper with a photo of U.S. President-elect Donald Trump, displayed on a newspaper board in Beijing. The headline reads "President Donald Trump delivers a mighty shock to America." (Andy Wong/AP)

A huge driver in the states that put Donald Trump over the top to win the presidency was economic dislocation, dissatisfaction, fear. Trump promised good times. Epic growth. Jobs pouring home. Economic rebirth. Now, he’s got the job. President-elect. How will he try to deliver on the big promises?  On trade, taxes, manufacturing?  The markets are predicting higher interest rates, inflation, big deficits. Voter expectations are high. Up next, On Point: The economy and Donald J. Trump. -- Tom Ashbrook

Guests

Neil Irwin, senior economic correspondent for the New York Times. Author of "The Alchemists: Three Central Bankers and a World on Fire." (@Neil_Irwin)

Robert Scott, senior economist and director of trade and manufacturing policy research at the Economic Policy Institute. (@RobScott_epi)

Peter Morici, economist and professor of international business at the R.H. Smith School of Business at the University of Maryland. Former director of the office of economics at the U.S. International Trade Commission. (@PMorici1)

From Tom's Reading List

New York Times: The Trump Administration Could Test Whether Deficits Help the Economy -- " Here’s a surprising conclusion you reach when you start to game out what economic policy will look like in Donald J. Trump’s administration: While many details of his policy agenda are likely to be staunchly opposed by the left, Mr. Trump appears likely to enact a fun-house mirror version of what many liberal economists have advocated for years: Keynesian fiscal stimulus."

The Economist: Our election, your problem — "A deal between Mr Trump and Congress to cut corporate taxes, goes the logic, would spur flush American companies to repatriate retained profits held offshore. It would also allow them to increase capital spending in America, because they would have more ready cash; and consequent profits would be taxed more lightly. The larger budget deficits entailed by tax reform, along with more public spending on infrastructure, would underpin yields on long-term Treasury bonds. Indeed, after falling in the initial aftermath of Mr Trump’s victory, yields on 10- and 30-year Treasuries are on the rise again (see chart). Add the potential for higher inflation from the stimulus and the likelier use of some protectionist tariffs, plus a Federal Reserve with a more hawkish tilt, as Mr Trump’s appointees alter the complexion of its interest-rate-setting committee, and you have the makings of a renewed dollar rally."

The Wall Street Journal: Donald Trump’s Financial Advisory Team Stocked With Wall Streeters — "Donald Trump’s successful insurgent bid for the White House promised to upend a global power structure that benefited large corporations. Now, several Wall Street financiers and other successful business leaders could be in line to run top posts in his presidential administration."

This program aired on November 14, 2016.

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