Yahoo Finance Bart Chilton: Trump is now the Deal-Maker-in-Chief
As President-elect Donald Trump looks to eliminate wasteful regulation and pushes for better deals with major U.S. corporations, a battle is brewing between free market economists and others who strive for a level economic playing field.
Former Commissioner at the U.S. Commodity Futures Trading Commission, Bart Chilton, thinks the markets are cheering Trump as the Dow Jones Industrial Average reached a new record high of 19,500 Wednesday.
But is the market’s recent surge, based solely on hope, sustainable?
“I'm not saying it's something that's sustainable. I get concerned also that things might be a little overheated,” Chilton said during an interview on FOX Business Network's After The Bell.
Prior to his election, Chilton thought Trump’s shoot-from-the-hip approach and lack of clarity with his policies would be reflected poorly in the market.
“He [Trump] sort of did a metamorphosis. It was a monumental metamorphosis in my view. And he has appeared presidential. He's like deal maker-in-chief now. And I think that has given confidence to markets. Now the question is whether he can go further and do things in the longer term, not just these one-off deals,” he said.
Chilton said Trump is setting a certain tone with his out-of-the-box approach, and foresees bureaucratic road blocks inside the Washington D.C. beltway.
“Whether or not he can get to these big picture issues like tax reform, the half a trillion [dollar] infrastructure bill he has proposed. If he can get to those things, those will create jobs and they'll move the gross domestic product. That would be a great thing for the economy, and a great thing for the country,” Chilton said.
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