BoA Predicts ‘Outright Boom’ Under Trump Policies

Summary

Podcast Summary: "BoA Predicts ‘Outright Boom’ Under Trump Policies"

Podcast Information:

• Title: The 47 Morning Update with Ben Ferguson
• Host: Premiere Networks
• Description: Hosted by popular national radio host, podcaster, and political commentator Ben Ferguson, The 47 Morning Update spotlights the latest news and political headlines, focusing on the President's administration, policies, and agenda. The show offers unfiltered insights, exclusive interviews, and honest commentary, providing listeners with behind-the-scenes coverage of the issues shaping America today, straight from the President’s Oval Office.
• Episode: BoA Predicts ‘Outright Boom’ Under Trump Policies
• Release Date: July 30, 2025

---

Introduction

In this episode of The 47 Morning Update, host Ben Ferguson delves into two major stories emanating from the White House. The first highlights a bullish economic forecast from Bank of America (BoA), suggesting not just a recovery but an outright boom under President Donald Trump's policies. The second story covers President Trump's recent statements regarding potential meetings with Chinese President Xi Jinping amidst evolving trade dynamics.

---

Story 1: Bank of America Predicts an Outright Economic Boom

Overview: Ben Ferguson begins by discussing Bank of America's optimistic outlook on the U.S. economy under Trump's administration. Contrary to the prevailing narrative of fear, stagnation, and modest recoveries, BoA analysts foresee an economic boom driven by several key factors.

Key Points:

1. Boom vs. Recovery:

   • Ferguson: "The next phase for the U.S. economy and equities might not be a routine recovery but 'an outright boom'." [00:49]

2. Five Pillars Supporting the Boom:

   a. Political Will:

   • BoA highlights the strong incentive for policymakers to implement pro-growth initiatives ahead of the midterm elections.
   • Quote: "In June, 70% of fund managers still predicted stagflation with only 10% foreseeing a boom." [06:57]

   b. The One Big Beautiful Bill:

   • Contrary to media skepticism, the bill focuses on domestic manufacturing and infrastructure, positively impacting the economy.
   • Ferguson: "The one big beautiful bill is targeting domestic manufacturing and having a huge impact." [04:30]

   c. Global Reflationary Forces:

   • With Germany enacting the largest stimulus package in EU history, global economic dynamics are shifting favorably.
   • Ferguson: "Global reflationary forces are building elsewhere." [05:15]

   d. Expansion of Capital Expenditures:

   • Major U.S. companies like Amazon, Meta, Microsoft, and Alphabet are projected to invest nearly $700 billion in capital expenditures between 2025 and 2026.
   • Ferguson: "Companies are set for nearly $700 billion in capital expenditures between 2025 and 2026 alone." [05:45]

   e. Proprietary Regime Indicator:

   • A blend of macro signals indicates a shift from downturn to recovery, historically leading to rallies in value stocks.
   • Ferguson: "The regime indicator is on the verge of flipping from a downturn to a 'recovery'." [06:10]

3. Implications for the Midterm Elections:

   • The positive economic indicators bolster support for Trump's agenda, influencing voter behavior.
   • Ferguson: "The midterms are a referendum on the president's agenda. If conservatives run on the big beautiful bill, the president could gain more power." [06:50]

Insights: Bank of America's optimistic forecast challenges the dominant media narrative, attributing potential economic growth to strategic policy decisions and global economic shifts. The emphasis on domestic manufacturing and significant capital investments underscores a proactive approach to bolstering the U.S. economy.

---

Story 2: President Trump Discusses Potential Meetings with Xi Jinping

Overview: The second major story covers President Trump's recent interview with Breitbart News, where he addresses the possibility of meeting Chinese President Xi Jinping. This discussion is set against the backdrop of evolving trade agreements and tariff negotiations.

Key Points:

1. Trade Negotiations and Tariffs:

   • President Trump outlines the successes of tariff policies, asserting they have strengthened the U.S. economy.
   • Trump: "The tariff deal that we made is by far the biggest deal ever made. We're taking in hundreds of billions of dollars." [10:00]
   • He highlights a $26 billion surplus, attributing it to tariff revenues.
   • Trump: "We had a surplus for the first time in 40 years of $26 billion. It came from tariffs." [10:30]

2. Economic Impact:

   • The tariffs have prompted Chinese factories to shut down temporarily, benefiting American workers and manufacturers.
   • Trump: "China is moving forward with a very good deal for American workers because Trump has all the leverage." [07:37]

3. Future Trade Deals:

   • Trump mentions ongoing and future trade agreements with Japan, the Philippines, Thailand, and Cambodia, encompassing nearly 60% of global GDP.
   • Trump: "Close to 2 billion people worldwide are now in these trading pacts that you've negotiated this year." [08:57]

4. Personal Relationship with Xi Jinping:

   • Trump emphasizes his cordial relationship with Xi and the potential for bilateral meetings.
   • Trump: "We look forward to it. We'll most likely be going to China in the not too distant future, maybe before this year is out." [13:20]

5. Media Misrepresentation:

   • Post-interview, Ben Ferguson addresses media misreporting, clarifying that Trump is not actively seeking the summit but responding to Xi's invitation.
   • Ferguson: "The media is reporting that I am seeking a summit with President Xi of China. This is not correct." [14:07]

Insights: President Trump's approach to trade negotiations centers on leveraging tariffs to benefit American industries and workers. The emphasis on impending meetings with Xi Jinping signifies a strategic move towards more balanced trade relations. Additionally, Ferguson's critique of the media highlights ongoing tensions between the administration and press outlets.

---

Conclusion

This episode of The 47 Morning Update presents a bullish outlook on the U.S. economy under President Trump, supported by Bank of America's analysis and recent policy initiatives. Simultaneously, it sheds light on the administration's proactive stance in international trade negotiations, particularly with China. Ben Ferguson effectively articulates the administration's successes while addressing media narratives, providing listeners with a comprehensive understanding of the current political and economic landscape.

---

Notable Quotes:

• Ben Ferguson: "The next phase for the U. S. economy and equities might not be a routine recovery but 'an outright boom'." [00:49]
• President Donald Trump: "We're taking in hundreds of billions of dollars. ... We had a surplus for the first time in 40 years of $26 billion." [10:44]
• Ferguson: "The media is reporting that I am seeking a summit with President Xi of China. This is not correct." [14:07]

---

For More Information: Subscribe to The 47 Morning Update with Ben Ferguson on the iHeartRadio app or your preferred podcast platform to stay informed with daily updates, Monday through Saturday.

Transcript

[Donald Trump]

This is an iHeart podcast.

[Advertiser]

Right now, America's Christian Credit Union is offering the top 12 month certificate rate in the nation. This limited time offer is just for new Accu members earn 4.75% APY on deposits up to 1 million. And it only takes $1,000 to get started. It's called a term share certificate, similar to a CD but with a mission and supports what matters, Christian schools, churches, adoptions and more. Visit americaschristiancu.com to get started. America's Christian Credit Union is federally insured by the ncua.

[Donald Trump]

Did you get to see my driver? The first hole, you hit it straight. Pretty long. Pretty long. That's, that's no Joe Biden, let me tell you. That's not Biden. Right? That was a good drive.

[Ben Ferguson]

You're listening to the 47 Morning Update with Ben Ferguson. Good Wednesday morning. Nice to have you with us on the 47 Morning Update. We've got two major stories for you this morning coming out of the White House. First up, the media finally having to tell the real story. Yes, there isn't just a recovery, it is a boom. Bank of America now saying the key tail risk is, well, that the Trump economy will actually start to take off. We're going to break that down for you in just a moment. Also, the President of the United States shocking the world saying that Xi Jinping wants me to go to China, will most likely be going and maybe this year as more tariff agreements have been agreed to by the White House yet again proving the media wrong. We'll have that. Also, it's the 47 Morning Update and it starts right now. Story number one, not just a cycled recovery, but a boom. That is how bank of America is talking about Donald Trump's economy in a market landscape that is fixated on fear or stagnation and modest recoveries because Donald Trump's in office and the they want everything to be doom and gloom. The bank of America is now having to tell us the truth. They're sounding the reality and even deciding that they are bullish on where we are headed. According to a new note from a Bank of America research analysts, the next phase for the U. S economy and equities might not be a routine recovery but quote, an outright boom. Today, a confluence of factors argue that the key tail risk that may not be priced in is not just a cyclical recovery but a boom. The note says. Exactly. So why is this happening? Well, there's five reasons they state, for a boom. The bank of America analysts citing these five pillars, they say Support this more than bullish case. First is political will. They argue that the U. S Midterm elections a few quarters away policymakers have strong incentive for near term pro growth initiatives. Why? Because everybody in congress right on the house side is up for reelection and there's a lot of members of the senate that are up as well. Second, they say is Washington's one big beautiful bill act. Yes, you may remember the media said it was going to destroy our economy. Nope. Now they're saying the one big beautiful bill. Well, it is targeting domestic manufacturing and having a huge impact. The third thing they say is the massive overseas jolt gathering now with Germany recently enacting the largest stimulus package in EU history while global reflationary forces are building elsewhere. Bank of America says fourth they see a broad expansion of capital expenditures in the U. S. Companies like Amazon, Meta, Microsoft and Alphabet set for nearly 700 billion in capital expenditures between 2025 and 2026 alone. They also said in addition, more non U S companies plan to expand manufacturing capacity in the U. S while municipalities are focused on updating aging infrastructure. Now this goes back to what Donald Trump promised. If you put American workers in manufacturing first and in these tariff agreements that you're doing, these trade deals, you're, you make sure that companies are forced to come back and do work in the United States of America, it could explode our economy. Bank of America is saying that is actually working and a reality. Finally, the last thing on the list the bank of America cited is proprietary regime indicator. That is a blend of macro signals including corporate revisions to earnings per share as well as g DP forecasts and other emerging signals. They say it's on the verge of flipping from a downturn to a quote, recovery, a change that historically means a rally in value stocks. Now the dominant narrative in the indicator remains conservative. According to the bank of America team, it is one they say in June, 70% of fund managers still predicted stagflation with only 10% foreseeing a boom and a above trend growth and inflation. Yet bank of America argues the catalyst for an upside breakout is real and now imminent. If the regime indicator does indeed flip to recovery in early August, historical precedent suggests a rapid rotation is quote, likely. So these are the big factors that even the banks are now saying are going to have a huge impact on your life. This also is going to be a major issue come the midterm elections. This is exactly why so many people trusted Donald Trump and voted for him the first time. Well, let's be clear. The midterms, the referendum on the president's agenda. And many conservatives have been supporting and advocating for the president voting for things like the big beautiful bill. If they run on it, there's a very good chance the president will have even more power after the midterms. And that's good for all American. Now, story number two, President Donald Trump in Scotland sitting down, talking about how it's time for a meeting with Chinese President Xi Jinping. He also said that Xi Jinping has been clamoring for a meeting in person with him soon, and that that may happen as soon as sometime this year either in China or at the White House in the United States of America. Now, President Trump sitting down for an exclusive interview with Breitbart News and said not only am I willing to meet with G, who I've had a long and cordial personal relationship with, despite the rising tensions between the US And China, he also went into detail about the tariffs and how it worked and Chinese factories shutting down after the tariffs he put on the country that lasted 30 days at extremely high level. And now China is moving forward with a very good deal for American workers because Trump has all the leverage to. Trump has also made it clear he's in no rush to accommodate what China is doing right now. He said we've got the leverage. I'm a dealmaker in chief. I want to cut several other massive trade deals as well. And so we're working with China, having these meetings. I want you to hear what the president had to say. And you may notice he's telling a story. He's very calm, he's not that excited. He's explained this takes time. And he's putting American workers and manufacturers for first yet again.

[Interviewer]

So announced in recent weeks, deals with Japan, the Philippines.

[Donald Trump]

Which was wonderful. And they've, they're opening up also. Everyone, we want everyone to open up, frankly. We want China to open up. If we could get China to open up, that's what I've been working on. And it would be good for unity. Good. You know, our companies would go in there, they'd compete, they become friends. A lot of, a lot of good things happen when you open up. The European Union was essentially closed to doing business with the United States. You couldn't really get in. They didn't take cars, they didn't take agriculture. They didn't take very much. And they've opened up entirely. And we'll be able to sell a full complement of cars, trucks, SUVs, everything. And ultimately, it's going to be good for them. And I think they're also going to come over and build plants in the United States. And when you do that, you don't have to pay the tariffs and they'll be paying a 15% tariff on everything.

[Interviewer]

So you've now with the deals that you've already announced and now these latest ones, I would imagine that we're going to see deals with Thailand and Cambodia soon, because that was the condition for the peace deals. But the point is that we've already seen close to 60% of worldwide GDP are now in deals with the United states. Close to 2 billion people worldwide, population wise, are now in these trading pacts that you've negotiated this year.

[Donald Trump]

The biggest thing that's ever happened. There's never been anything like it. Just the deal with Europe. If you look at that deal, that deal is bigger than any deal that's ever been made. But the biggest deal of all is the deal on tariffs. If you look at the tariff deal, the whole concept of tariffs, which covers sort of everybody, the tariff deal that we made is by far the biggest deal ever made. There's never been a deal so big you could buy IBM or one of our major companies a hundred times, maybe a thousand times, and it wouldn't equate to the kind of numbers you're talking about here. And we're taking in the United States is becoming very rich very fast. We're taking in hundreds of billions of dollars. You saw last month they had a surplus of $26 billion. And everyone said, where did that come from? I said it came from tariffs. We had a surplus for the first time in 40 years of $26 billion. Everyone was wondering, like, where did this come from? When I was in Saudi Arabia, the king and also other people throughout at NATO and other places, but the head of Qatar also and the head of UAE and the king in that particular region, they said almost the same words. They said, you know, one year ago your country was dead. They actually said, dead. We had a dead country. Our country was maybe not going to make it. They said now you have the hottest country in the world and it's only been six months. You know, I mean, it's six months and we still have things to do. The border is great, but we have to get a lot of people out that came in here illegally and that are criminals at the highest level, including murderers. We have to get them out. What the Democrats did to this country is unthinkable, unthinkable. But. And we are getting them out. Tom Holman and Christie, as you know, are Doing a great job. But we are really set to have, I call it the golden age. This is the golden age of America.

[Interviewer]

On the tariffs front with all of these successes and these deals that you're seeing. We saw a lot of people criticize your tariffs at the beginning of this thing. Do you think the critics are, you know, they got egg on their face. Are they wrong here? Have you proven them wrong?

[Donald Trump]

Many of them have apologized. Many of them didn't understand tariffs. Even economists, they didn't understand it's a negotiation, basically. You know, when you say that you're going to pay X percent on any product that you put into our country, they're taking our jobs, they're closing our plants. When they do this, you know, they have to pay a price for it. So our country was the richest from around 1870 to 1913. Proportionately, it was the richest. That was a golden age, in a sense. We were so rich, we had so much money, we didn't know what to do with it. That was when we had a tariff country. We took money from outside countries and stupidly, in 1913, they went to a income tax system and the rest is history. And, you know, look, it's done fine, but we owe $36 trillion. You wouldn't owe $36 trillion. We, with tariffs, and we'll be paying off debt, and we'll be doing a lot of things with this money. This money that's coming in is at levels that nobody's ever seen before. Our country has never seen money, and you cover it better than anybody. Our country has never seen money come in at this level. Would you agree?

[Interviewer]

I agree with you, Mr. President. Yeah. So now your treasury secretary, Scott Bessen, is, while we're here, meeting with the Chinese delegation on trade in Stockholm, Sweden. I believe it's his third such trip to meet with them. What are some of the things you're hoping happens on that front with. With China?

[Donald Trump]

Well, we want to have them open up. We want to have certain things. We want to be fair. We're getting along very well with China. The trade deal so far is good. I actually raised the tariffs at one point. They were 145%, which means you can't do any business. But it was a little bit excessive, to put it mildly. And basically that stopped trade between the United States and China for one month. And that was not good for China. That was, you know, they had a tough period of time. They were losing factories, closing factories, and I don't want that to happen. But we're having very Productive discussions with China. That's all I can tell you. It's a little bit different. The China is different and the European, interestingly is the biggest trading deal. But the China is very important to us.

[Interviewer]

I know you have a great personal relationship with Xi Jinping. Do you envision a time down the road, an in person meeting between the two of you guys, possibly in China or possibly at the White House or so on the ground?

[Donald Trump]

Well, he wants me to go there and he's going to come here and we're just going to work out dates. But we look forward to it. Actually, it was one of the most incredible trips in my first term. It was, I think maybe the most incredible trip nobody's ever seen. And Saudi Arabia was incredible also. In particular. Those two trips were. Nobody's ever seen anything like them. Very different, but equally incredible. But the China trip was with the Great hall and I don't think you were there.

[Interviewer]

I wasn't.

[Donald Trump]

But it was something that was unparalleled. There's never been anything and they said they're going to do it bigger and better this time. So we'll see what happens. But we'll most likely be going to China in the not too distant future, maybe before this year is out and he'll be coming here.

[Ben Ferguson]

You won't be surprised. By the way, after the interview you just heard the media lied about exactly what the President was doing. The President having to send out a true social text saying this quote, the fake news is reporting that I am seeking a summit with President Xi of China. This is not correct. I'm not seeking anything. I may go to China, but it would only be at the invitation of President Xi which has been extended. Otherwise, no interest. Thank you for your attention to this matter. Yep. Leave it to the liberal media to take a great moment where we're getting closer to a better trade deal that will help America to put out lies. The President's begging for a meeting with Xi. Thank goodness we have a President that continues to put American workers first and make sure that we are not getting taken advantage of any longer. Thank you for listening to the 47 Morning Update with Ben Ferguson. Please make sure you hit subscribe wherever you're listening to this podcast right now and for more in depth news, also subscribe to the Ben Ferguson podcast and we will see you back here tomorrow.

[Advertiser]

Right now, America's Christian Credit Union is offering the top 12 month certificate rate in the nation. This limited time offer is just for new Accu members earn 4.75% APY on deposits up to $1 million and it only takes $1,000 to get started. It's called a term share certificate, similar to a cd, but with a mission and supports. What matters Christian schools, churches, adoptions and more. Visit americaschristiancu.com to get started. America's Christian Credit Union is federally insured by the NCUA.

[Donald Trump]

This is an iHeart podcast.