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It has not, however, started the process of setting a budget or taxes with Congress. Where does that leave Wall Street, and where does it leave the people who voted Mr Trump into power? Job growth continued, but average hourly earnings growth fell sharply.So the Trump economic inheritance is healthy.What steps has the administration taken to get on with the job?Tax reform requires tricky negotiations with Congress and, so far, amid the frenetic activity, no steps have been taken to start them.Mr Trump's chief economic adviser, Gary Cohn (until recently Goldman chief operating officer), has promised to spike an Obama rule due to take force this April that would require advisers offering pensions to have a fiduciary responsibility: they would have to act in the interests of the client, and could not be distracted by the amount of commission they might receive.Investment banks' shares have outperformed the market by 20 per cent since the election.
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