Gary Cohn, former economic adviser to President Donald Trump and current Vice Chairman at IBM, has emphasized that the incoming administration is poised to take over a robust and stable economy. Speaking on CBS’s Face the Nation with Margaret Brennan, Cohn highlighted that President-elect Trump will inherit an economic landscape characterized by growth, stability, and positive momentum moving forward into 2025.
According to Cohn, the economy under President Obama had already gained significant traction, and Trump’s administration would benefit from this momentum. “The economy is very good, very stable, and in a very positive cycle,” Cohn remarked. He noted that the economic foundations were strong, suggesting that Trump could capitalize on these existing conditions to push for further growth and development.
A Strong Economic Foundation
Cohn’s remarks were focused on the stability of the U.S. economy as Trump took office in January 2017. During this period, the U.S. had experienced consistent recovery from the 2008 financial crisis, with steady GDP growth, a declining unemployment rate, and rising consumer confidence. Cohn emphasized that these positive indicators would lay the groundwork for continued prosperity under the new administration.
Cohn, who played a key role in shaping economic policy during Trump’s first term, also highlighted the importance of business cycles, noting that the U.S. was in a favorable phase heading into 2025. His comments suggested optimism for the future, underscoring the belief that policies already in place would contribute to long-term stability, even as Trump moved to introduce his own economic reforms.
Business and Economic Outlook for the Future
As the incoming administration prepared to take office, Cohn expressed confidence in the business cycle continuing in a positive direction. He pointed to a variety of factors that supported this view, including a strong labor market, solid consumer spending, and a favorable regulatory environment for businesses.
Cohn’s perspective was grounded in the broader economic narrative at the time, which suggested that, while challenges remained, the outlook for the U.S. economy was generally favorable. His comments mirrored the sentiments of many economists who, although cautious, saw the incoming Trump administration inheriting an economy that was well-positioned for future growth.
A Key Transition Period
Cohn’s words were part of a larger conversation about the economic challenges and opportunities facing the new administration. The transition period between the Obama and Trump presidencies marked a pivotal moment for economic policy, with Trump’s promises of tax cuts, deregulation, and trade reform signaling a potential shift in the economic landscape. However, Cohn’s focus on the “very good economy” Trump was inheriting was an important reminder that the foundations laid during the Obama years would play a significant role in shaping the new administration’s economic agenda.
While Cohn acknowledged that changes were on the horizon, he made it clear that the positive trends in business and economic activity at the time would provide a solid starting point for Trump’s presidency.
Conclusion
Gary Cohn’s assessment of the economic landscape in 2017 framed the incoming Trump administration as one that would benefit from a stable and growing economy. His remarks underscored a broader sense of optimism, emphasizing that Trump’s policies would have a favorable environment in which to succeed. The confidence in a strong economy heading into 2025 reflected the belief that, while challenges lay ahead, the U.S. was well-positioned to navigate them under the new leadership.
References
- CBS News, Face the Nation with Margaret Brennan (2017).
- Bloomberg, Economic Outlook for the U.S. Economy Under Trump (2017).
- CNBC, Gary Cohn Reflects on Economic Conditions during Trump’s First Term (2017).
