Is US economy better or worse now than under Trump?

Published On Sep 2, 2024, 7:58 PM

The article compares economic indicators during the presidencies of Joe Biden and Donald Trump, focusing on GDP growth, inflation, employment, wages, and financial markets. Both presidents show similar GDP growth rates, though economic recovery post-COVID has been significant. Inflation reached a peak of 9.1% under Biden but has since fallen to around 3%. Employment has improved greatly under Biden, resulting in nearly 16 million new jobs since January 2021, although wage growth hasn’t kept pace with inflation. The stock market saw highs during both administrations, with fluctuations due to external economic pressures.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

Given the strong job growth and lower inflation rates, the Biden administration may support a more bullish stock market outlook. However, concerns about wage stagnation and the economic impact of potential future Fed actions could temper these gains.

XLYView XLY chart on TradingView

Positive

If inflation continues to stabilize and job growth remains strong, sectors linked to consumer spending could perform well, particularly those that suffered during the inflation spikes. Watch retail and consumer discretionary stocks.

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