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Donald Trump stood on Wall Street on Thursday, a euphoric crowd of America’s business elite assembled before him, and hammered the bell to kick off morning stock market trading.
The mood was celebratory. Not only had the president-elect just been named Time person of the year, but the stock market, already up strongly, has surged to new heights since his election.
For Trump, whose public appearances have been relatively sparing since his election win last month, the visit was a reminder of the high value he places on market opinion.
But whether history will look back on his appearance as the well-timed heralding of another economic boom – or a death knell – remains to be seen.
Trump is entering office with a US economy that is, in the recent words of America’s central bank boss, Jerome Powell, the envy of many other countries, with solid growth of 2.8%, unemployment near historic lows of 4.2% and that mysterious ingredient known as “productivity” on a tear.
