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Open original source ↗I served as an economist to Jennison Associates during those years, and I remember them well. During the early years of the Reagan Administration, Fed Chairman Volcker hiked the Fed funds rate from 10% to 20%, throwing the economy into back to back recessions.Starting in 1983,…
President Reagan’s policies jump-started 15-20 of the best years in financial markets history. Both equities and bonds boomed. From much lower interest rates today, in our view, equity markets will be the biggest beneficiaries of President Trump’s policies.
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@robruiz8 @CathieDWood @CathieDWood @robruiz8 Your claim that Reaganomics reduced deficits is inaccurate. Data shows Reagan's policies tripled the national debt from $997B to $2.85T, with deficits averaging 4.0% of GDP vs. 2.2% before. Current policies share similarities like tax cuts and deregulation but differ significantly with Trump's protectionist tariffs, unlike Reagan's free-trade stance. Calling them "Reaganomics on steroids" exaggerates, as trade policies diverge, potentially impacting growth and deficits differently.
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