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The results of the 2016 presidential election have brought up a lot of questions concerning America's financial future.

What will happen to trade deals, manufacturing jobs, wages, business regulations, interest rates and taxes? Who might be the winners and losers? Will Americans ever believe what economists tell them?

Regardless of the answer to that last one, economists Chris Farrell and Louis Johnston discussed the outlook for the American economy and what direction President-elect Donald Trump might take it in.

Last year each economist made a prediction on how the economy would look by the end of 2016, with Farrell giving it a thumbs-up and Johnston giving it a "shaky" thumbs-up.
While both predictions fell a little short, both had slightly optimistic views on the current situation. 

"I think what you're seeing on Wall Street is an expectation of a stronger economy in 2017," said Farrell.

"I think the great recession itself has been over for a while," said Johnston. "But, like anyone who's had a major illness — say a terrible heart attack of a stroke — the effects linger on and scars are still there."

variety of ideas on how to improve the country's economy.

The main concern with all these big ideas is how they will interact with each other, Johnston said.

"The House desperately wants big tax cuts, President Trump probably wants these tariffs. What if we enact both," he said. "Those are two things that are going to be working against each other pretty badly, and the question is how's the economy going to adjust to that."

Johnston and Farrell made predictions and answered questions on which of Trump's plans might work and how they could change life for U.S. citizens.

 is senior economic contributor for APM's Marketplace, MPR and WPR, writes for the Star Tribune and the New York Times, and has a podcast called Unretirement. 

 is professor of economics at St. John's University and the College of St. Benedict. He writes a blog on economics, 

The event was held December 8, 2016 at the McCarthy Center for Public Policy and Civic Engagement at St. John's University and the College of St. Benedict. The moderator was former MPR host Gary Eichten.

To hear the full discussion, click the audio player above.

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What will the future of America's economy look like? Will trade deals be dissolved? Will manufacturing jobs return? Will wages and interest rates go up - or down? And will Americans ever believe what economists tell them?

Economists Chris Farrell and Louis Johnston discussed the outlook for the American economy and what direction President-elect Donald Trump might take it in.

The future of America's economy according to two economists

Chris Farrell, Louis Johnston, Gary Eichten

What might the economy look like in the Trump era?

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