Trump Takes Office With a Prosperous Economy That Faces Persistent Problems | Global News Avenue

Donald Trump was sworn in as president for the second time on Monday, taking over an economy that is running smoothly in many ways but faces unprecedented challenges.

Trump was sworn in as the 47th president of the United States in the Capitol Rotunda, now empowered to enact many of the sweeping economic changes he promised on the campaign trail. His agenda includes tax cuts, Reduce federal regulations, deport immigrants, levy tariffs Products imported from overseas, and Promote cryptocurrency.

In his speech, Trump promised that the United States would usher in a new “golden age” Set the economic agenda The focus is on fighting inflation, taxing foreign trade, deporting immigrants and denouncing his predecessor Joe Biden’s climate policies that promoted oil production instead of green energy.

He inherits a booming economy, underscored by ongoing problems beyond the Biden administration’s control. During Biden’s presidency, employers Job opportunities are added every month During his tenure, the stock market boomed; Wages are growing faster than inflation By some measures, the economy is growing at a healthy pace; Violate predictions Experts think it will slip into recession.

Meanwhile, the post-pandemic surge High inflation persistsoutraged voters and lowered living standards for many workers; homeownership became Cheapest in decades. Unwinding of pandemic-era social safety net programs leaves millions of children in limbo fall back into poverty Biden’s effort to expand child tax credit stalls in Senate. The national debt continues to rise, Sound the alarm Affect the stability of the financial system and trigger political confrontation.

After the November election, with Republicans in control of both houses of Congress and a 6-3 conservative majority on the Supreme Court, Trump will have broad powers to implement the sweeping economic reforms he promised during the campaign. The incoming president has pledged to begin making many of these changes first day There is no need to wait for legislation, including imposing tariffs and laying the groundwork for mass deportations.

UPDATE: This article has been updated to include quotes from Trump’s inaugural address.