Can the robust Trump Economy survive the Coronavirus epidemic?

At the beginning of 2020, the US economy was poised for increased growth, probably exceeding 3% for the first time since 2005. But between the potential oil glut recently promised by Saudi Arabia and the growing coronavirus epidemic — just today declared a pandemic by the World Health Organization (WHO) — can the robust Trump Economy survive not one but two potential global economic catastrophes?

Looking back, it’s easy to see that economic growth picked up in 2017 after President Trump eliminated thousands of growth stifling and counter-productive regulations. Growth accelerated further in 2018 after Congress passed a massive tax cut. However, in 2019 growth slowed because the Federal Reserve (Fed) decided to raise interest eight times from the end of 2016 to the end of 2018.

Fortunately, in 2019, the Fed cut rates three times, setting the stage for increased growth in 2020. January and February saw very positive numbers for wage growth, income growth and employment. The economy was indeed moving toward a 3% plus growth rate.

Enter the coronavirus epidemic

Then the Coronavirus epidemic struck. It is difficult to determine how severe the spread of the virus will be in the US. Or how life-threatening and economically damaging it might be. So far, the number of…