A Trump Effect?

Kaylee Cusack

Document Type

News Article

Publication Date

11-17-2016

Campus Unit

College of Business & Public Administration

Abstract

UND experts weigh pros and cons of GOP presidency on North Dakota's economic outlook.

When the Electoral College deemed businessman Donald Trump the next president of the United States in the early morning hours of Nov. 9, social media sites and watch parties erupted with equal parts joy and panic.

But mixed within the emotions was a feeling of uncertainty. The biggest questions: What would a Trump presidency look like? And here in North Dakota, what could this mean for the state’s economy?

David Flynn, chair of UND’s Department of Economics & Finance, says a national feeling of uneasiness was apparent the moment it became clear Trump could be victorious. That’s when S&P futures tanked on election night.

“I think the market anticipated a Clinton victory, so a Trump victory was an unexpected event which forced them to rethink what they were doing,” Flynn said. “Markets hate uncertainty, so anytime these kinds of events start to reveal themselves, you start to get wild swings in one direction or the other.”

Now that the markets have surged back, the next uncertainty is the appointment of Trump’s cabinet. Political analysts have placed Oklahoma oil mogul Harold Hamm at the top of the list of potential choices for secretary of energy.

Share

COinS