Economic impact of Trump’s victory
Statement by lead economist from Dun & Bradstreet Bodhi Ganguli, said:
“The USA is the world’s fourth largest country and has remained unchallenged as the only superpower since the collapse of the Soviet Union in 1991. The economy is heavily market-orientated and the most powerful and technologically advanced of its kind. Yet, the immediate aftermath of the Presidential Election drastically impacted financial market volatility – in the form of stock market gyrations and swings in the US dollar. Uncertainty will follow over the next few weeks as businesses, consumers and policymakers, not just in the US but globally, seek to understand how the new president will translate campaign promises into policy.
“With a Republican majority in both the House and Senate, it’s likely to be easier for the new government to implement policies after taking office. We do however expect extended discussions to take place on key areas such as tax policy and international trade. The extent of cooperation by the Congress will eventually depend on the details of the actual policies proposed and the ability of the new president to convey his goals effectively. But the risk of policy gridlock is measurably lower, reducing political risk in the economy. Dun & Bradstreet’s proprietary data indicate that the economy is on track to end 2016 with 1.6% growth.”