Former Trump Advisor Steve Moore on Economic Boom and Reaganomics

Economic Boom Under Trump

• 💡 Business investment is surging, with shipments up nearly 10% in the last 3 months, double the rate of the past year.
• 🚀 Industrial production, consumer goods, business goods, productivity, and profits are all booming, indicating a strong overall economy.
• ⛽ Steve Moore notes the significant drop in gas prices, paying $2.69 a gallon, as another positive economic indicator.
• 📈 Exports are increasing under Trump, contributing to a reduction in the trade deficit.

Reaganomics and Deregulation

• 🔑 The tax cuts implemented by the Trump administration are credited with stimulating business investment in capital goods.
• 🛢️ America is producing more oil and gas than at any other point in history.
• ⚖️ A policy of 100 deregulations for every new regulation is highlighted as a key achievement of the Trump presidency.
• 🌟 The current economic situation is compared to the third and fourth terms of Ronald Reagan, citing a similar economic spurt from Reagan's policies.

Economic Growth and Inflation

• 🗣️ Donald Trump's stance is that economic growth does not cause inflation, and the Federal Reserve should not stifle the boom.
• 🚫 The argument is made that traditional economic models, which suggest a tradeoff between lower unemployment and higher inflation, should be discarded.
• 🌍 Trump is seen as initiating a global movement for growth, encouraging other countries to adopt similar pro-growth policies.

Federal Reserve Appointments

• 🏦 Concerns are raised about potential Federal Reserve appointments, specifically regarding Rick Rieder's past donations to anti-Trump candidates and organizations.
• ✅ The host and Steve Moore advocate for appointing Kevin Warsh or Kevin Hassett to the Federal Reserve, citing their economic expertise and alignment with supply-side economics.
• 🇺🇸 The importance of choosing candidates who can reestablish a strong and stable dollar and potentially reform the Fed is emphasized.