Economic Impact of Ending Protected Status

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This is why over thousands of businesses have made the switch. So why not you Try Odoo for free at odoo. com That's ODOO. com. How much credit does a president get for the stock market From Marketplace. I'm Sabri Beneschure, and for Kimberly Adams. President Trump rang Wall Street's opening bell yesterday from the Oval Office. This was to mark the launch of the Trump accounts program, basically retirement savings accounts for kids. Children born between twenty twenty five and twenty twenty eight can get a thousand dollars from the Treasury Department to kick things off President Trump also took the opportunity to link his presidency to the stock market. He pointed to dozens of record breaking highs under his tenure Bradley Saunders is here to talk about that. He's North America economist at Cital Economics, Bradley, welcome N to have me on. So President Trump wants some credit for the stock market's performance. Can you remind us overall How stocks have been doing since he came into office? Well they've been doing very well, certainly. But the extent to which we can attribute that to Trump's policy making is dubious. He has ultimately inherited an AI boom which happened to start quite soon before he was reelected. And then you can see that then if you look at the breakdown in the performance of stocks where so much of the gains have come from these IT firms, these so called hyperscalers or magnificent seven or however you want to refer to them. And so I think quite little has then come from Trump's policy making. In fact, I suppose at points, you could argue, in fact that Trump's policymaking has been reductive for equity performance. thingsings like tariffs, which have then slowed the pace at which the Fed is able to lower interest rates or cutting immigration and raising deportations and you reducing the extent to which the economy can grow. I think these are things which actually a net negative for stock performance typically How much effect can presidents in general have on stock markets Well, it's difficult to say federal policy making can be beneficial in particular industrial policy. So if you look at, for instance, when President Biden was in office, he put in a series of know subsidies and tax breaks to promote high tech manufacturing and that helped. like the ChIPs Act, for instance, you know, subsidizing semiconductor manufacturing, that's beneficial. The extent to which that feeds through to equity performance though is complicated, I think on the macro side tends to be how the Fed sets interest rates and that's something You know, whether President Trump likes it or not the White House doesn't really have much control over Bradley Saunders, North America economist at Capital Economics. Thank you so much as always. Thanks having me again AI is everywhere. Y work, your home, even apparently, your toaster. 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This is why over thousands of businesses have made the switch. So why not you Try Odoo for free at odoo. com That's ODOO d. com. The Trump administration wants to end a policy that allows certain Haitian and Syrian immigrants to stay in the U. S. This is a program for people fleeing natural disasters or social unrest. It's called temporary prrotected status A couple of weeks ago, the Supreme Court ruled the administration does in fact have the power to end it And that means something like three hundred fifty six thousand people and potentially many more, could soon face detention and deportation You don't remove that many people from the labor market without economic consequences. And Zeke Hernandez is here to talk about that. He's a professor at the University of Pennsylvania's Wharton School and has researched this. Wlcome Thanks for having me again So this case was specifically about immigrants on temporary protected status from Haiti and Syria. But a lot of experts believe this ruling is likely to extend to one point three million people who are currently on temporary protected status from as many seventeen countries. Do you think that is that what you expect Yeah, that seems to be the case or at least the pretext that the administration is trying to use. So I think we should assume that the intent is to affect a lot more people Already then basically, you know, a magic wand has been waved. and three hundred fifty six thousand people are no longer allowed to legally participate in the economy. If that becomes one point three million people What does this all mean for the economy?