As the U.S. economy picks up speed, with low unemployment and rising consumer confidence, some of you have written to me criticizing that we are not giving enough credit to President Trump for this economic nirvana. There is a good reason: According to most private economists, this is not yet Donald Trump's economy. The landscape we are currently enjoying is the handiwork of Janet Yellen's Federal Reserve and Barack Obama's White House. Those who write to me don't agree. Their argument is that companies are bringing back investment, creating new jobs and there is new confidence because of the prospects of lower taxes, massive deregulation and stronger trade protections for American companies. In other words, President Trump has created this environment and he deserves the credit for its benefits. I can see the merit of this argument. Unfortunately, most private sector economists, like Professor Ken Rogoff at Harvard, a former chief economist at the IMF, don't agree with it. Time and again, these economists say, yes, Trump has had an effect, but it's too soon to give him full credit. The debate will continue. I won't take sides. Instead, we will just bring you both arguments, allowing you to make up your own mind. Anytime you want to write to me, my email address is below. -Richard.Quest@cnn.com |
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