Wells Fargo chief economist: Trump’s on second date with the financial markets

Mortgage & Real Estate

Wells Fargo Chief Economist John Silvia made an abnormal analogy between President-elect Donald Trump and courting America in an interview with CNBC’s Squawk on the Street.

In his interview, Silvia tried to describe what he thinks is in store for Trump’s future.

From the piece:

President-elect Donald Trump will have to start developing his policies once he steps into office to keep the markets rallying at postelection levels, Wells Fargo’s chief economist, John Silvia, told CNBC on Friday.

“Since the election, I think Trump has had his first date with the American public and the markets. Now the first date’s over, everybody’s happy. Now we’re on to the second date,” Silvia told “Squawk on the Street.”

“And the second date really starts to tell what [you can] actually produce in terms of tax cuts and infrastructure spending,” he said.

Right after the election, U.S. stocks posted a dramatic turnaround from deep overnight losses despite warning for months that a Trump White House would create uncertainty and damage sentiment.

And according to the latest consumer confidence report, consumer confidence sits at the highest level since August 2001 as American households expect a Donald Trump administration to deliver.


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