What would a Trump economy look like in a second term for South Floridians?
MIAMI - With inflation affecting everything from gas to groceries, many Americans are feeling the financial strain as prices rise across the board.
While some struggle to afford basic expenses, questions linger about how the economy might change under a new administration.
Experts and consumers alike weigh in on the potential impacts of recent economic shifts, including a stock market surge and anticipated interest rate cuts.
Whether it's gas or groceries, rising prices are hitting Americans' pocketbooks.
"I'd say about 2-300 dollars a month," said Sharonda Jackson, after being asked how much her monthly grocery bill has gone up.
Many Americans are feeling a pinch in their pocketbooks, spending more for less.
"I can't afford to buy food for just me, and I got a wife," said Alan Mason of Doral.
But what would their budgets look like under a Trump economy?
"If our new president doesn't do something with the gas prices, the food is never gonna go down because the cost of delivering it is still up there," Mason said.
The election result caused the Dow to soar by 1,500 points. Charles Sachs, a Certified Financial Planner, says the stock market may not impact everyone directly, but it could increase consumer confidence and spending.
"Our economy is two-thirds consumer discretionary-people out spending. So when they feel this, I think they feel more comfortable perhaps spending or maybe reaching for that bigger ticket item," Sachs said.
Sachs notes that many Americans may directly or indirectly benefit from a market boom, especially if their retirement plans are invested.
"Whether they have perhaps insurance policies that have underlying investments, or they're part of a government pension that has investments in the market, or if they own 401(k)s or IRAs. Most people these days are positively impacted," Sachs said.
Inflation is around 2.4 percent, just above the Federal Reserve's target of two percent. The Federal Reserve is expected to cut interest rates on Thursday.