Trump faces formidable institutional obstacles – so what can he do? | Barry Eichengreen

Frustrated from implementing much of his economic agenda, the president can only continue lashing out at perceived enemies

Donald Trump took office promising a raft of sweeping economic policy changes for the United States. He has quickly discovered, like previous US presidents, that America's political system is designed to prevent rapid, large-scale change, by interposing formidable institutional obstacles, from the Congress and career civil servants to state governments and the courts.

Start with reform of personal income tax. This should be a slam-dunk, because the president and congressional Republican leaders are on the same page. Trump's goal of removing the government's groping hand from Americans' pockets, by cutting the top marginal tax rate on ordinary income from 39.5% to 33%, is entirely consistent with mainstream Republican ideology, according to which high tax rates penalise success and stifle innovation.

Related: Trump's border tax could damage the US a lot more than a wall | Kenneth Rogoff