Economics
Gross Sees Trump’s Anti-Globalization Agenda Hurting Profits
- Janus manager says Trump stock rally likely to be short-term
- Gross’s unconstrained fund has returned 4.9% this year
Gross Sees Negatives in Trump's Anti-Globalization Policy
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President-elect Donald Trump may boost stock markets in the short term but his policies will likely limit long-term economic growth by restraining trade and corporate profits, according to Bill Gross, the billionaire bond manager.
Trump’s campaign promises included renegotiating trade deals, cutting tax rates, such as those imposed on corporations, and increasing spending on infrastructure. The policies may fuel inflation and drive up the federal deficit without generating sustainable productivity growth, according to Gross.