Donald Trump’s second presidency is likely to result in lower US GDP growth, faster US inflation and a slightly higher path for the fed funds rate. The implications for the rest of the world are highly uncertain, not least because it is unclear how many of the pledges he made on the campaign trail will translate into a programme for government. In general, however, we think the immediate effects will be smaller than many seem to fear. This is not to say that Trump’s re-election doesn’t matter – just that the consequences are unlikely to be found in changes to global GDP growth over the next year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services