A woman who knows what she’s talking about. Photo: Ethan Miller/Getty Images Donald Trump has a gift for not quite squandering the prosperity he inherits. For all his failed casinos and busted bait-and-switch schemes, the mogul never quite burned through the fortune his father left him. And for all his ill-considered trade wars and assaults on financial regulation, the president hasn’t made a dent in the expansion that began under his predecessor. In fact, since Washington’s deficit and inflation hawks go silent whenever a Republican president takes office, Trump has actually managed to strengthen the recovery by passing a giant fiscal stimulus, and cowing the Fed into going (appropriately) easy with rate hikes. Of course, all expansions must die. Global growth is slowing, much of corporate America looks over-leveraged, and the stimulative impact of the Trump tax cuts are starting to fade (if not backfire). Economic winter is coming. But the most recent indicators suggest it won’t come soon enough for the Democratic Party. Since the Fed backed off of interest rate hikes earlier this year, leading stock market indexes have rallied to new heights, while GDP growth has remained solid, and unemployment near historic lows. Many top analysts have… Read full this story
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