Why Trumponomics cannot make America great again

Given the Trump presidency's political ineffectiveness it is hard to envisage much changing economically either, be it growth, trade or tax

Now that US President Donald Trump has been in office for six months, we can more confidently assess the prospects for the US economy and economic policymaking under his administration. And, like Trump's presidency more generally, paradoxes abound.

The main puzzle is the disconnect between the performance of financial markets and the real. While stock markets continue to reach new highs, the US economy grew at an average rate of just 2% in the first half of 2017 - slower growth than under President Barack Obama - and is not expected to perform much better for the rest of the year.

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