• While the economy is booming, it’s hard to detect a real break in the post-financial crisis recovery in hard data covering growth, job creation, and wages.
• The high growth in Q2 was substantially boosted by fiscal stimulus and one-off factors, and we don’t think 4%+ growth is sustainable for very long.
• There is a positive trend break in some data though, corporate profits, the stock exchange, and especially business and consumer confidence, creating a feel-good factor.
• And these latter changes are undeniably the result of the Trump government policies.

Source: The Feel-Good Economy | Seeking Alpha