Are the recent record highs all down to Donald Trump’s growth agenda policy promises he was elected on?

Back in November 2016 he made a number of commitments – one of which was to reduce taxes. Since he was elected and with these ‘commitments’ queued up, the US economy has done very well regardless. Even on a promise and without these tax cuts becoming official policy, the economy has performed well. But is it down to President Trump? It’s certainly gone up on a promise that’s for sure.

In my opinion the US is benefiting from Federal Reserve policy and good corporate performance. Interest rates are rising, financial stimulus is being reduced and even with the lack of promised tax cuts – the US economy is doing just fine – slowly getting back to a more normal status – whatever normal is now!

So what happens if, or when, these tax cuts come to fruition – where then for the US economy – indices to go even higher?

With the recent defeat of the affordable healthcare act (Obamacare) replacement – it looks less likely the promised tax cuts will materialize any time soon.

Has this damaged President Trump?

And where next for the US financial markets?