What the Trump Victory Means for Our Economy
The decisive election of Donald Trump to a second presidential term has fueled the hopes of investors for a renewal of economic momentum, a stronger labor market, a revived manufacturing sector, and more abundant energy. As a result, the stock market has soared to new highs.
Voters have long signaled their rejection of “Bidenomics,” the combination of big-spending and centralized command-and-control economic policies built around leftwing social and environmental goals that led to the worst explosion of inflation in four decades. Many told pollsters that they believed their own household financial positions had worsened during the course of the Biden administration and said they preferred the economy when Trump was president.
Of course, Trump cannot simply turn back the clock to the pre-Biden era. Too much damage has been done…
