Stock markets continue to pioneer new record highs, blue-collar wages have increased more than under any other president, inflation remains moderated in comparison to his predecessor and economic growth has proven impressive.

Tweet

Despite constant warnings of impending recession from media figures who solemnly pretend that they wouldn’t welcome a downturn they could blame on President Trump, the economy keeps expanding under his agenda of lower taxes and deregulation.  

Nearly every day throughout recent weeks, we’ve witnessed successive new record stock market highs reflecting that economic vigor.  The Dow Jones Industrial Average continues to break new highs.  So does the S&P 500.  So does NASDAQ.  

That doesn’t happen unless something is going fundamentally right in our economy.  

Accordingly, while some people may not like President Trump, their 401(k) accounts certainly do.  

To read news reports, however, it almost appears as if investors reluctantly accept that America’s economy has defied pessimists’ expectations, as highlighted by The Wall Street Journal:  

From trade deals and foreign elections to merger announcements to corporate earnings, investors are finding plenty of reasons to be happy  …  “There’s just a lot of stuff in the ‘good’ column and not a lot in the ‘bad’ column,” said Jed Ellerbroek, portfolio manager at Argent Capital Management  …  “Investors have had no choice but to get comfortable with President Trump’s negotiating style and his preference for doing trade deals publicly,” Ellerbroek said  …  Though crucial economic data releases – like the October jobs report – have been delayed due to the government shutdown, better-than-expected profits at major companies have assuaged concerns about the health of the U.S. economy.  

And what underlies that optimism?  The new regulatory environment, according to the same Journal report:  

“The regulatory environment is constructive, not just for the banking industry,” Huntington Chief Executive Steve Steinour said in an interview.  The policies of this administration “are very pro U.S. growth.”  

Importantly, however, the good news isn’t limited to stock market investors or wealthier Americans.  Blue-collar workers have experienced greater wage growth during President Trump’s first several months than under any other president in history.  

As even CBS News was forced to concede, “Real wage growth increased 1.7% for blue-collar workers in the first five months of the Trump administration, a bigger increase than the first five months of any other administration.”  

Digging deeper into those historical numbers, President Trump looks even better.  Specifically, as New York Post columnist Miranda Devine notes, the second-highest record for blue-collar wage growth for the first several months of a presidency occurred in Trump’s first term:  

Since Richard Nixon in 1969, Trump has been the only president to record positive growth for blue-collar workers in his first five months.  He also achieved 1.3% in his first term.  The recovery from a 1.7% decline recorded in [Joe] Biden’s first five months, as inflation outpaced earnings, suggests a shift in economic conditions for this financially stressed segment of the workforce.  

In addition to wage growth, that reflects moderated inflation under Trump, as opposed to his predecessor.  By this point in Biden’s presidency, consumer inflation had nearly quintupled from 1.4% in January 2021 when Trump left the White House to 6.2% in October of that same year, according to the official federal data.  

By way of further reminder, in less than one year inflation exceeded 9% under Biden, by which time his administration and compliant mainstream media were assuring us in succession that inflation (a) didn’t exist, then (b) was “transitory,” then (c) was due to the administration’s impressive management of the supply-chain economy, then (d) Vladimir Putin’s fault.  

In contrast, President Trump inherited 3.0% inflation from Biden in January this year, but since that date the rate has averaged 2.65% in the eight months of his new term.  

Meanwhile, quarterly economic growth came in at 3.8% for the most recent period, which is substantially better than the post-World War II average of 3.2%.  

Believe it or not, there’s even more potentially good news on the immediate horizon.  Namely, many of the tax cuts in Trump’s “One Big Beautiful Bill” haven’t yet taken effect.  When they do, all other factors remaining steady, the economy should only accelerate further.  

Finally, more icing on the economic cake comes from Gallup, whose pre-holiday season headline reads, “U.S. Holiday Shoppers Plan to Spend Briskly.”  

Accordingly, while reliable economic predictions remain impossible and at the mercy of events, to date President Trump has outperformed expectations.  Stock markets continue to pioneer new record highs, blue-collar wages have increased more than under any other president, inflation remains moderated in comparison to his predecessor and economic growth has proven impressive.  

That reflects Trump’s agenda of lower taxes and less regulation, which merits recognition and appreciation.