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Americans Think Their Personal Wealth Will Grow From Trump's Presidency

President Donald Trump

Consumer confidence jumped to a record high this month not seen in 11 years as more Americans expect President-elect Donald Trump’s reign to boost their financial fortunes.

That’s according to the latest University of Michigan preliminary index of sentiment, which rose to 98 from 93.8 in November, Bloomberg reports. While many of Trump’s economic policies are still unclear, Americans are expecting the best, according to this report, with a record share of respondents in surveys spontaneously mentioning the positive impact they perceive coming from new policies. Economists, however, predict that though the US will see higher economic growth from Trump's presidency, it will result in rising inflation and interest rate hikes. [Bloomberg]