Chester County Officials Discuss What Trump's Presidency Will Mean For Economy
CHESTER COUNTY, Pa. (CBS) -- "What to expect under the Trump administration?" has become a fairly common question.
What it might mean for the economy -- nationally and locally -- was the topic of Chester County Economic Development Council's annual economic outlook.
"I think we've moved from shock to cautious optimism."
Fulton Financial Advisors CEO Dave Hanson on the transition to a Trump presidency from an economist's view, pointing to a spike in consumer confidence and small business confidence:
"If Trump can engage small business people and get them confident that things are going to be okay to invest again, that will be a self-fulfilling prophecy and we're going to see strong economic growth."
Hanson points to tax cuts and regulatory and healthcare reform.
But Hanson points out many of Trump's policies will be negative for debt and deficit along with the challenge of limiting inflation with Trump's optimistic GDP numbers.
CCEDC board members, along with several business owners say they're confident both Chester County and the Philadelphia region are well positioned regardless of what happens in the oval office.