Trump, the next 100 days
3 May 2017
Donald Trump’s supporters sent him to Washington to bring change, but his presidency in its first hundred days appears to have gotten off to a slow start. So what do these challenges for the new US administration mean for markets, the economy and all of us?
In this video, ING’s Chief International Economist Rob Carnell takes a look back and also ahead to the next hundred days and how that could affect markets and the economy. He suggests that a moderate Trump policy regime might not be such a bad thing.
While we might see further concrete progress on a wide swath of policy areas over the coming three months, the new US President may not achieve as much as he hopes. On a range of policies, his plans often face stiff opposition from Congress.
Market expectations were arguably far too high in the immediate aftermath of Mr Trump’s election victory. No radical tax cuts and limited infrastructure spending mean we’re unlikely to see an unwanted surge in inflation or aggressive rate hikes from the Fed. The conclusion: a limited policy success is not really an economic problem as much as a political problem for the Trump administration.