Whether it’s upsetting prices for farmers or upsetting politics for other people, this time of the year is spent looking ahead to the new one.
Donald Trump’s inauguration as the 45th president of the United States will be held on January 20th. While his victory sparked protests, it also provoked widespread speculation about some of his campaign promises.
Beth Ann Bovino, chief U.S. economist with S&P Global Ratings said there’s still uncertainty over what path President-elect Trump will take.
“In terms of the impact of the Trump presidency on growth, you have to keep in mind that right now, campaign promises are just what they are—promises,” said Bovino. “They are not policies. Let’s see what happens in terms of how they get through Congress and what comes out at the end.”
Job gains are now averaging around 180,000 a month, and the unemployment rate is less than 5 percent, according to Bovino.
“In terms of actually pushing the unemployment rate down even further and strengthening the job market, that might actually result in stronger inflation as well, making the Fed likely having to move further,” said Bovino.
She said if there are no major shocks to the economy, growth is expected to be around 2.5 percent and more interest rate rises are likely.