Trump economy shows resilience, stalled progress at 18 months

At 18 months into Trump's second term, the U.S. economy presents a mixed picture: the S&P 500 has gained about 25%, matching historical averages, and corporate bond issuance hit a record $1.52 trillion, driven largely by AI investment. However, stalled progress in areas where Trump promised a boom from mass deportations and tariffs, compounded by risks from the U.S.-Israeli war against Iran, has tempered overall performance.