‘What we found was an optimistic, yet somewhat cautious outlook for business this year…’
As Trump moves into the third year of his presidency, the majority of Americans believe the economy under Trump is significantly better than it was under former President Barack Obama, the poll says.
The president’s economic policies, dubbed “MAGAnomics” have helped bolster a healthy market and a steady flow of job creation, despite substantial interest-rate hikes from the Federal Reserve to curb inflation.
Trump has previously complained that the Fed was undermining his economic growth policies compared with Obama, who enjoyed near-zero interest for nearly his entire presidency in the hopes of stimulating the stagnant economy.
The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!
— Donald J. Trump (@realDonaldTrump) December 24, 2018
However, he dialed back criticism after hints in late December that he might fire Treasury Secretary Steve Mnuchin or Fed Chairman Jay Powell, along with the impending government shutdown, briefly rattled investors before roaring back.
The gossip from financial doom-and-gloom prognosticators did not seem to sway the average respondent in the Pew poll. “More Americans say Trump’s economic policies have made conditions better (40 percent) than worse (28 percent), while 29 percent say they have not had much of an effect,” the survey stated.
“In January 2011, a comparable point in Barack Obama’s presidency, the public expressed mixed views of the impact of his economic policies, with about as many saying his policies made things worse (31 percent) as better (28 percent),” it added.
Business owners and executives are confident in the president and his policies, in large part because of the 2017 tax cuts that they are now beginning to reap the benefits from.
A recent Zogby Analytics poll found that 79 percent of owners, chief executive officers, vice presidents, officers, administrators and directors are planning to hire more employees in 2019.
“What we found was an optimistic, yet somewhat cautious outlook for business this year,” the Zogby survey said.
Investors are also optimistic and confident. A new UBS Investor Watch Pulse poll found 71 percent of business leaders invested in Wall Street were optimistic about the 10-year economy.
“Our findings show that High Net Worth Investors have become concerned by recent gyrations like everyone else but the silver lining is that they understand the fundamentally strong long-term view,” said Sameer Aurora, UBS head of strategic programs. “[I]n fact they are more optimistic about the economy over the next years than they were last Fall.”