SMBC Nikko Securities America managing director and former chief economist at the National Economic Council under President Trump, Joseph LaVorgna, joins Catalysts to discuss how investors are thinking about US President Donald Trump's policies.
"Too much growth has been driven by government spending. We saw that last year with the budget deficit at nearly 7% of GDP [gross domestic product] against the backdrop of full employment," LaVorgna says, adding, "We cannot stay on this path. That is a partisan issue. The question is how we fix it."
The economist tells Yahoo Finance the Trump administration needs to provide "clarity on the tax package" as "there seems to be a disproportionate amount of attention focused on the tariffs, and it really needs to be more of the tax policy."
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This post was written by Naomi Buchanan.
