Edward Luce: Trump Inherited Pretty Much Perfect Economy

LUCE: “I mean, Germany has had a so-called Sutnik moment. We talk about John Maynard Keynes. The Germans are now talking about real spending, real reflation, and so are the French. Even the British are beginning to sort of move under Keir Starmer. So, the animal spirits that the market is expecting to see have crossed the Atlantic. I mean, I think Trump inherited pretty much the perfect economy from a macroeconomic point of view on January the 20th. There had been a soft landing. Inflation was under control. The Magnificent Seven stocks were booming for good reason. And in seven short weeks, he’s turned America from the star performer into the laggard. It’s hard to think of any other president who, in that short a period of time, could have shifted the markets from bull to bear, as Trump has done in the last couple of months. It’s remarkable.”