Art Laffer: Trump's the Most Bullish Thing the Market Has Ever Seen

By The Fed FOXBusiness

Art Laffer: It's about time rates were raised

Former Reagan Economic Policy Advisor Art Laffer on the Fed's decision to raise interest rates, whether tax reform will be done by 2017 and the GOP's plan to repeal and replace ObamaCare.

Former Reagan Economic Policy Advisor Art Laffer is very optimistic about the U.S. economy, after the Federal Reserve raised its benchmark interest rate 0.25 percent on Wednesday.

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“It’s about time rates were raised, it’s about time they got out of the market and let markets determine those rates and you will see this economy just go crazy,” he told FOX Business during an interview on “After the Bell.”

In addition to a robust jobs report in February, which showed the American economy added 235,000 net new jobs, Laffer believes President Trump will continue to provide a boost to Wall Street as well.

“He [Trump] is the biggest, most bullish thing this market has ever seen and can well offset any rate increase there could be imagined by Janet Yellen,” he said, adding that “the tax cuts that Trump is proposing, the deregulation, all of that—I think you are in for a very, very large rise in asset values and a huge economy.”