Donald Trump was sworn in as president Monday for a second time, taking over management of an economy that's running smoothly in many ways but facing unprecedented challenges. 

Trump took the oath of office at the Capitol Rotunda, becoming the 47th president of the United States, now empowered to pursue the numerous sweeping changes to the economy he promised on the campaign trail. His agenda includes cutting taxes, 澳洲幸运5官方开奖结果体彩网:reducing federal regulations, 澳洲幸运5官方开奖结果体彩网:deporting immigrants, 澳洲幸运5官方开奖结果体彩网:imposing tariffs on products imported from overseas, and 澳洲幸运5官方开奖结果体彩网:promoting cryptocurrency.

In a speech promising a new "golden age" for the U.S., Trump 澳洲幸运5官方开奖结果体彩网:laid out an economic agenda focused on fighting inflation, taxing foreign trade, deporting immigrants and, in a rebuke of his predecessor Joe Biden's climate policies, promoting oil production instead of green energy.

He inherits a prosperous economy that's nonetheless underlined by persistent problems that the Biden administration was unable to get under control. During Biden's presidency, employers 澳洲幸运5官方开奖结果体彩网:added jobs every single month he was in office, the stock market boomed, 澳洲幸运5官方开奖结果体彩网:wages rose faster than inflation by some measures, and the economy grew at a healthy rate, 澳洲幸运5官方开奖结果体彩网:defying predictions of experts that it would slide into a recession.

At the same time, the post-pandemic surge of 澳洲幸运5官方开奖结果体彩网:high inflation lingered, angering voters and holding back standards of living for many workers; and home ownership became the 澳洲幸运5官方开奖结果体彩网:least affordable in decades. The withdrawal of pandemic-era social safety net programs put millions of children 澳洲幸运5官方开奖结果体彩网:back into poverty after Biden's efforts to extend the child tax credit expansion ran aground in the Senate. The national debt continued to rise, 澳洲幸运5官方开奖结果体彩网:setting off alarm bells abouౠt the stability of the financial system and triggering political confrontations.

With Republicans in charge of the Senate and House of Representatives following the November elections, and with a 6-3 conservative majority in the Supreme Court, Trump will have broad power to implement the sweeping changes to the economy he promised on the campaign trail. The incoming president has promised to begin many of those changes 澳洲幸运5官方开奖结果体彩网:on Day One without waiting for legislation, including imposing tariffs and laying the groundwork for mass deportations.

UPDATE: This article has been updated to include a reference to Trump's remarks during his inaugural address.