Several CEOs are voicing the same complaint about one of Trump's biggest brags
Alex Brandon (Associated Press)
But the CEOs of several large companies have the same grievance: They aren't seeing consumers spending much more, and can't yet proceed with major investments.
That's according to transcripts of several second-quarter earnings calls parsed by Goldman Sachs.
"Most executives note that they haven't seen an appreciable increase in customer activity despite improving sentiment," said David Kostin, Goldman's chief US equity strategist, in the firm's quarterly Beige Book of CEO commentary.
For business owners, Trump was supposed to be the deregulatory president. The National Federation of Independent Businesses reported that the surge in its members' optimism was comparable to 1983, when the economy was emerging from a recession under President Ronald Reagan.
But business leaders are also frustrated with the slow pace of progress in Washington. Trump's domestic agenda primarily for healthcare and tax reform has stalled amid divisions within the Republican party and the Russia investigation.
Here are some remarks from earnings calls (emphasis added):
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’