A second fiscal stimulus package in the United States would be counterproductive
If US growth slows down, as it inevitably will, President Trump will very likely want to adopt a second fiscal stimulus package. If the majority in Congress makes this possible, which is doubtful following the mid-terms, this second fiscal stimulus will occur. But it seems likely that it would be ineffective or even counter-productive: Another fiscal stimulus package would lead to a sharp rise in US long-term interest rates; This rise in interest rates would cause a fall in the equity market, triggering negative wealth effects.