Karl W. Smith, Columnist

The Trump Effect on the Economy Is Undeniable

More so than most presidents, Trump has been a driving force on economic issues.

It’s his economy now. Really.

Photographer: Sean Rayford/Getty Images North America
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Economists typically argue that the president has little effect on the economy. But it’s hard to think of a recent president for whom that is less true than Donald Trump. From the record-breaking expansion to the mini-recessions in manufacturing and housing, the U.S. economy is undeniably Trump’s.

For the last three years, Democrats have argued that Trump inherited a great economy from Barack Obama and has done very little to alter its course. Job growth under Trump, they often point out, has been roughly equal to (or slightly less than) job growth during most of Obama’s tenure.