IBD/TIPP Poll: Economic Optimism Hits 13-Year High on Trump Tax Cuts
By Jed Graham
Investor’s Business Daily
February 6, 2018
The IBD/TIPP Economic Optimism Index climbed 1.6 points to 56.7 in February, riding a wave of tax-cut-fueled pay hikes, bonuses and stock-market gains to a 13-year high.
The polling from Jan. 25 to Feb. 2, reflecting 900 responses, was conducted as President Trump delivered an upbeat economic message at his State of the Union Address. That followed a six-week period in which hundreds of companies announced one-time bonuses and dozens handed out pay raises, giving credit to the tax legislation. Among those hiking pay in January were Walmart (WMT), which raised its starting wage from $9 an hour to $11, and JPMorgan Chase (JPM), which boosted pay for 22,000 tellers and customer-service agents from a range of $12-$16.50 an hour to $15-$18.
The Economic Optimism Index is now in solidly optimistic territory (readings of 50 are neutral) and at its highest point since October 2004.