THE TRUMP EFFECT – AT 10:31 A.M. ET:  People may not always love Donald Trump.   A Ronald Reagan he is not.  But he seems to be having a positive effect on how Americans view the future of their country.  From Business Insider:

The Conference Board's consumer confidence index surged to 114.8 in February from January's print of 111.8, making for the best reading since July 2001.

The internals of the report looked good as the Present Situation Index jumped 3.4 points to 133.4 and the Expectations Index climbed 3.1 points to 102.4.

February's reading topped the 15-year high of 113.7 set back in December after Donald Trump's election victory.

“Consumers rated current business and labor market conditions more favorably this month than in January," Lynn Franco, Director of Economic Indicators at The Conference Board, said in the report. "Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects. Overall, consumers expect the economy to continue expanding in the months ahead.”

COMMENT:  The key question is whether the American people are learning to filter out the media coverage of Trump and concentrate on what he's actually doing, and plans to do.

Tonight's speech is critical in that regard.  I think we're all curious as to what the president will say, and how the public will react in polls.  The New York Times is already rejecting what it believes will be the content of the speech, which is not surprising. 

Give Trump credit where it's due.  He has inspired at least a large chunk of the nation to be optimistic for the first time in a long time.  Maybe the press isn't as powerful as it thinks.

February 28, 2017