Deregulation - controlling what he can control:
Bottom Line: As we await next steps on tax reform, we're well aware that generally the President hasn't been able to achieve top legislative accomplishments to date. There are two areas he has been highly effective however...With regard to the quick replacement of the SCOTUS vacancy and by reigning in regulation.
After eight years of averaging growth of just 1.8%, the worst sustained stretch of growth in US history, we suddenly popped to a strong second quarter growth rate and it happened without healthcare or tax reform. That doesn't just magically happen. The President played a key role that's often under considered - there's been significant repealing of Obama-Era executive regulations.
In his first five months President Trump ended more than 800 regulations impacting most industries
Realizing that only those leading businesses impacted by the regulations understand the impact - the President is holding a ceremony to highlight those efforts and to announce next steps on the regulatory front. With the second quarter growth as a backdrop - it's exciting, though potentially frustrating to think about what might be economically possible if we were to get tax reform follow-through this year.