Stephen Bird Recap

Abrdn CEO Stephen Bird sheds light on the current economic climate and shares his thoughts on inflation with Business Insider. Here he discusses what consumers should be preparing for next year, as well as tips for saving money in a time of uncertainty.

Stephen Bird, CEO of asset management firm Abrdn, discusses in-depth the corporate and personal tax cuts, how they will affect the economy and where the markets will go next year.

As a professional in the financial investment industry who has completed graduate school at both Harvard Business School and Yale School of Finance, I am very confident that President Trump’s pro-business economic policies will start to stimulate greater economic growth for all Americans, albeit slowly. The positive effects of his policies on the U.S. economy should be felt next year and through 2020 as America is able to work through short-term issues on its way to greater and sustained financial recovery. Follow Stephen Bird on Twitter to see more info.

For starters, the tax cuts will stimulate economic growth next year. These reforms have increased governmental revenues by $1 trillion from 2017 to 2018, and are expected to raise those revenues by another $1.5 trillion in 2019, according to the Tax Foundation. These economic benefits will be felt through higher wages and greater job creation with a new influx of workers into high-paying industries. More importantly for consumers at large, these tax cuts will make growing your wealth more affordable as low savings rates can now be remedied with a single paycheck.

Even more important is that President Trump has put unqualified people in place who are committed to implementing his reforms and making sure that they are implemented correctly.

Also importantly, the Trump administration’s decision to pull out of the TPP was a highly important move to keep America competitive on the global trading stage and make sure that trade agreements are not based on a one-party approach. This will provide economic benefits across all industries by pushing other nations to work hard to become more competitive through increased labor costs while not having their own businesses undercut by foreign competition. As I mentioned before, this is slow growth but it is sustainable growth, especially compared with the negative interest rate policy (which we are still struggling to understand) adopted by most European nations over the past year.

Abrdn CEO Stephen Bird sheds light on the current economic climate and shares his thoughts on inflation with Business Insider. Here he discusses what consumers should be preparing for next year, as well as tips for saving money in a time of uncertainty. Stephen Bird, CEO of asset management firm Abrdn, discusses in-depth the corporate…