President-elect Donald Trump campaigned on promises of aggressive import tariffs, strict immigration curbs, deregulation and smaller government, but the economy he inherits next week may be screaming for something different.
Namely, don't break anything.
With output expanding above trend, the labor market near maximum employment and adding jobs, and the embers of inflation still smoldering, Trump may be launching his promised reforms into an economy less in need of the sort of stimulus his 2017 tax cuts provided. As a stock sell-off following last week's strong December jobs report showed, it may also be prone to correction given high asset values and a bond market that has been moving yields higher.
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