CHICOPEE, Mass. (WWLP) – The Dow made history on Wednesday, closing at 20,000 for the first time ever. This historic milestone leaves the Dow up more than 1,700 points since President Donald Trump’s victory in November.
Financial Adviser Mark Teed told 22News the President’s plans to deregulate the economy, ramp up infrastructure spending and slash taxes is excellent news for Wall Street.
Teed also said the jump is a reflection of the solid economy Trump inherited from former President Barack Obama; “He handed off a pretty good economy to Trump. Trump then said all the right things to the markets: deregulation, taxes. That was the catalyst the market needed to go up 2,000 points.”
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This milestone shows how much the United States economy has grown over the last eight years. The U.S. has added jobs for a record 75 straight months and the unemployment rate is at a ten year low.
22News asked Teed what impact this move will have on western Massachusetts residents. He said now is a great time to own any sort of tangible asset, whether that be real estate or stocks.
Over the course of the next 18 months, Teed predicts we will see global economic growth, which could lead to inflation and put pressure on oil prices.