After the Election Economic: Analysis and Advice for CEOs and Business Owners
Economic analysis and advice for CEOs and Business owners
Wondering what actions to take, given the elections results? Check out the results in the report, After the Election: Economic Analysis and Advice for CEOs and Business Owners, featuring analysis from Dr. Richard Curtin, Research Professor at University of Michigan, Ami Kassar, Vistage member and CEO of MultiFunding, and Brian Beaulieu, CEO of ITR Economics here.
And, the latest WSJ/Vistage Confidence results are in. The post-election November survey of small business CEOs recorded a 5.9% gain in economic confidence from October, and the first year-to-year gain in the Confidence Index since July of 2015. CEOs provided more favorable assessments on all Index components, with the largest improvement in the year-ahead outlook for the U.S. economy. Read the details here.
- That brings us back to uncertainty. For Beaulieu, the one big question is whether Trump could start a trade war. “He has the authority to put us in a trade war in his first 100 days in office. For anything else he will have to go through Congress, and that will take time to help—or hinder—the economy.”
- “A trade war could rapidly change everything,” Beaulieu says, adding that’s his biggest worry.
- However, he and Kassar have hopes for the new administration, and final thoughts for business owners. “Trump talked about opening credit to small businesses,” Kassar says, “and I think he might be able to do it, or find ways to make more loans available and free up capital.”
- Beaulieu says he feels confident that Trump’s tax policies will influence business favorably. Legislators are actively discussing rolling back all or part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. “I am all in favor of repealing Dodd-Frank,” Beaulieu says. “It will free up capital and grow the economy.”
- This is a “short-term good, long-term bad” scenario, as Beaulieu also believes repeal of Dodd-Frank increases the risk of the next Great Depression becoming a reality.
For more information, read our November, 2016 Confidence Index Results blog post here
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