Businesses have benefited from tax cuts and easing restrictions on their activities (AFP)
During the 1456 days since Trump was elected president, corporate taxes were lowered, the man fought his trade wars, the Corona pandemic spread, and the largest American companies added nearly $ 9 trillion to the value they recorded 4 years ago.
The Standard & Poor’s 500 Index has risen 55% since Election Day on the first Tuesday of November 2016, the fourth best return for a US president in his first term, according to data compiled by Bloomberg Network.
The numbers don’t lie, but determining how much credit Trump deserves during his presidency is one of the markets’ most controversial topics. Trump’s corporate tax cut supported final profits, but monetary policy was also largely accommodative during his administration.
However, there are those who underestimate the association of the stock market boom with a particular president. The head of the global asset allocation department at Manulife Investment Management, Nathan Theft, says: “Whether you are talking about Barack Obama or talking about Trump or someone else, it is difficult to link that to a president. “.
The president, in his view, is “just one of the many people making decisions at the governmental level, as well as all the relevant non-governmental factors that actually drive the stock market.”