Many American voters are hopeful that President Donald Trump’s second term, which began on Jan. 20, will usher in a period of economic prosperity — much like they felt during his first term.
However, the economy he is inheriting this time around is markedly different from the one he inherited eight years ago, pre-pandemic. And he faces new challenges.
While former President Joe Biden has defended his handling of the country’s economic recovery — pointing to strong job growth and falling inflation — high prices persist. A large national debt, climate change and some of Trump’s own policy proposals may further complicate efforts to boost the economy.
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