Amanda Jones | Staff Writer
Following the election, the stock market became the center focus of the economy. With the hopes that Trump’s term in the White House would, “ramp up public spending, as well as cut personal and corporate taxes,” as reported by CBS News, many financial companies rose their investments on Wall Street.
The stock market is infamous for its crash in the 1930’s during the Great Depression and since then has found its success and growth in the subsequent decades. The Dow Jones Industrial Average, also simplified as the DJIA, has been the leading indicator for the condition of the market since the 1980s. With daily fluctuations in the stock market, “the Dow” follows the sporadic changes in the finances of the most influential 30 companies in the U.S stock market.
With the stock markets surging after the election, the phrase “Trumpflation” has become widely used to refer to the possible increase in the price of goods. When asked about her perspective on the direction of the economy, Amirrah Watson, a freshman nursing major from Jackson, Mississippi responded, “I think the economy is still in recovery at this moment and in the future, it is going to get a little worse because all three branches of the white house are held by the same party.” Many Republicans and Democrats are skeptical about the future of the economy; however, some are hopeful.
A Gallup poll traced the attitudes of people from both Democrat and Republican sides evaluating a significant difference in attitudes towards the economy before and after the election with majority of the people supporting the direction of the economy after the election.
Since the election, many financial companies have seen record highs. The S&P 500, a collection of several economic institutions, the Dow and NASDAQ are just a few of companies that have benefited much from the outcome of the election. As reported by CNN, after the election, investors are encouraged that,” the president-elect will unleash the U.S. economy by cutting taxes, rolling back regulation, and ramping up infrastructure spending.” Not only are stock prices increasing now, they are predicted to remain at a constant level for the duration of Trump’s presidency.