
IPFS News Link • Trump Administration
Trump's economy ROARS, U.S. dollar hits 13-year high
• https://thehornnews.comIn March, I wrote that the election of Donald Trump would be like an injection of steroids for the stock market.
Forgive the self-congratulation, but my team and I completely nailed it.
Don't take it from me. Ask investors around the world, who are clamoring to buy-in to the Trump presidency as fast as they can.
After a 7-day long rally that saw stocks soar to new highs, Wednesday marked the first down day for the stock market. Thursday morning, stocks have rebounded modestly, while overnight trading briefly pushed the value of the U.S. dollar to a 13-year high.
What does that mean? That shows there is a lot of faith in the U.S. economy.
And that means there is faith in the president-elect.
The future won't always be so consistently rosy, of course. There will be down days — in fact, later today Federal Reserve Chairwoman Janet Yellen is expected to announce a rate hike in December that may slow enthusiasm.
But the naysayers that warned of global economic collapse if Trump was elected have been proven wrong yet again.
These same market Chicken Little's predicted the sky would fall when the United Kingdom approved Brexit. Last I checked, the stars were still safely above both our countries.
The fact is, investors are expecting less government interference from the Trump administration, and that's fueling enthusiasm.