Can President Trump Take Credit For The Economy?
INDIANAPOLIS -- As President Trump gets set to deliver his first State of the Union address Tuesday evening, you may wonder if his administration is the reason behind the record gains in the stock market and the growth of your 401K and retirement plans.
"Whatever you see in the stock market today is simply a reflection of what is anticipated to occur in the future," says Dr. Matt Will, Associate Professor of Finance with the University of Indianapolis, who says business leaders are optimistic about future under the next three years of "The Trump Economy."
"The President can definitely do harm to the economy if they overtax [or] they over regulate. But the truth is, other than not doing harm, they don't really have a lot of impact on the good," says Dr. Will, who President Trump may take credit for the recent growth, but it's more likely that it's what the President isn't doing that is helping the economy by placing any additional burdens on businesses.
However, Dr. Will believes that Trump's immigration policy may keep the economy from growing any further.
"We have a labor shortage. What does [Trump] want to do? [He wants to] stop immigration. He's got to understand that if we're going to have more jobs in this country, we going to need people to fill the jobs and right now we have a skilled labor shortage," says Dr. Will.
"When he does this immigration reform in the next few weeks, I hope he focuses it on bringing skilled labor into the United States in much higher numbers."
Photo credit: Getty Images / Xinhua News Agency