Since being elected, President-elect Trump has been getting things done. He’s been making deals that have kept jobs in America, and secured investments in America from overseas. His election has caused an unprecedented spike in optimism in the stock market. At this point, Donald Trump has possibly done more to help the country before becoming president than President Obama did in eight full years in office.We have gotten so much good news since election day, sometimes it’s easy to forget that even more will be getting done after Donald Trump takes office. When it comes to the economy, international economists from the IMF announced some great news regarding Trump’s plan.
The forecast, which part of the 189-nation lending agency’s Global Economic Outlook Update, noted that Trump’s election has already given a significant boost to U.S. stock prices, interest rates and the dollar.
The new outlook puts U.S. economic growth at 2.3 percent this year and 2.5 percent in 2018. That would be an improvement from lackluster U.S. growth around 1.6 percent in 2016, according to IMF estimates.The new forecast represents a boost of 0.1 percentage point this year and an increase of 0.4 percentage point for 2018, when Trump’s stimulus plans would be expected to take effect. That is a half-point higher growth than the IMF was forecasting in October, before Trump’s election.
IMF Chief Economist Maurice Obstfeld told reporters at a briefing Monday that the IMF’s upgrade for the United States was a moderate increase that took into account the U.S. election results.
“We now have the presidency and the legislative branch in the same hands. It seems very clear to us that some of the promises will be delivered on,” Obstfeld said. “We know the direction of policies. We don’t know the specifics.”Trump has promised to deliver an economy that puts America first and focuses on economic growth. Economists who’ve studied Trump’s plans agree: his policies will lead to greater growth than previously projected. It is now up to Congress to work with Trump and ensure his policies get implemented, so the American economy can get moving again.
The announcement comes as liberals in Congress make plans to boycott the inauguration and block Trump’s agenda from passing. The IMF makes clear that attempting to obstruct Trump’s policies will obstruct economic progress for the American people.Donald Trump has proven, so far, that he isn’t letting anything get in his way. If today’s forecast is any indication, we can expect more good things to come once he takes office.
[Note: This post was authored by Michael Lee. Follow him on Twitter at @UAMichaelLee]