How Trump's second White House term could impact the economy

foxbusiness.com:

Pennsylvania restaurant owner Matt Flinchbaugh discusses how his business fared under the Biden administration on The Big Money Show.

It hasn't even been a week since Donald Trump was declared the winner of the 2024 presidential election, and investors have high hopes for the president-elect's second term in the White House. All three major stock indexes and the price of bitcoin all hit record highs on Monday, and the dollar surged.

While some experts are predicting that Trump's second term will bring an economic boom to the U.S., others are warning that the president's agenda will have a varying impact depending on industries.

Members of «Steelworkers for Trump» pose with former US President and Republican presidential candidate Donald Trump after they gifted him a hard hat during a campaign rally at Arnold Palmer Regional Airport in Latrobe, Pennsylvania, October 19, 2024

Eric Stein, the head investor at major asset manager Voya Investment Management, says there will be winners and losers resulting from Trump's various policies:

Stein says the permanent extension of Trump's 2017 tax cuts and a lower corporate tax rate as the president-elect has proposed are likely to spur growth (and inflation), benefiting stocks while pressuring bonds as long-term yields rise.

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Lexington Institute national security analyst Rebecca Grant explains why tariffs are 'here to stay' on 'Making Money.'

Stein says threats of universal 10-20% tariffs may be a negotiating ploy to expand U.S. access to foreign markets, but higher tariffs on China are likely and Congress could revoke its most-favored-nation status, shifting supply chains and increasing