Trump 100 days

Archived tax plan could help White House close gap

27 April 2017

Donald Trump's bullet points, summarizing earlier campaign ideas, would add trillions to U.S. deficits over 10 years. Ex-Congressman Dave Camp sketched out a more balanced plan three years ago. It may offer a blueprint, albeit with smaller business-rate cuts than Trump wants.

Trump’s sketchy tax math will fail Congress test

26 April 2017

The president’s plan for big rate cuts relies on the unrealistic assumption that GDP will hit 3 pct and be enough to cover any revenue shortfall. The U.S. deficit, though, is growing at an alarming pace. Republican lawmakers are likely to demand a do-over before giving it a pass.

U.S. “animal spirits” are turning into zombies

24 April 2017

The bump in U.S. stock prices and bond yields after November's election is still there, but fading. Donald Trump's business-friendly ideas are looking less likely to get through Congress. And if yardsticks measuring protectionism are any guide, that threat has evaporated.

Trump’s first 100 days provide more art than deal

24 April 2017

The U.S. president is planning a flurry of events before Saturday's landmark, including another try at repealing Obamacare and the unveiling of a tax plan. Promised early policy wins have yet to materialize though. Given his record, he’d be wise not to risk a Washington shutdown.

Fed’s new bank overseer could rattle rates process

17 April 2017

Randal Quarles looks headed to lead regulatory oversight at the central bank. He worked at Treasury but left before the crisis. He's expected to have a pragmatic view, despite Trump’s Dodd-Frank dissing. He may make more waves on monetary policy with a rules-based approach.

Trump finds markets, too, are complicated beasts

13 April 2017

The U.S. president no longer wants to label Beijing a currency manipulator. He belatedly learned the yuan hasn’t been purposely devalued for a while. He's also warming to the dovish Janet Yellen and the Export-Import Bank. As with healthcare, he seems to be learning on the job.

Weak U.S. hiring looks like blip in steady economy

7 April 2017

For Donald Trump, who touted strong jobs growth in February, a mere 98,000 new positions last month was a reversal. The 12-month average is still over 180,000, though, and key unemployment rates declined. One month of data, good or bad, rarely tells the whole story.

Even Cohn-Warren can’t bring back Glass-Steagall

6 April 2017

The mixed bag of supporters for separating commercial and investment banking now includes Gary Cohn. The former Goldman Sachs president advising Donald Trump is aligned with Wall Street scourge Elizabeth Warren. Congress, however, is too busy to bother with breaking up banks.

White House cross-border M&A rethink risks blowback

5 April 2017

President Trump may make it harder for foreigners to buy U.S. firms. The process for divining national-security threats in takeovers needs an overhaul. But many of the ideas smack of pure protectionism against China ahead of President Xi’s state visit. It could spur retaliation.

Nominee’s industry ties risk side effects for FDA

29 March 2017

President Trump pledged to close the revolving door, yet FDA nominee Scott Gottlieb is taking his second whirl. Experience in government and industry is valuable, but his potential conflicts with pharma firms may hamper the agency. Recusal isn’t a prescription for effectiveness.