Many business owners and corporate executives have expressed unbridled optimism that President Trump can fuel economic growth and increase their profits.
Their borrowing habits, however, may tell a different story.
Some of the nation’s top bankers said on Thursday that businesses were feeling less certain that Mr. Trump can pull off his ambitious agenda to deregulate and cut taxes.
Many industries, the bank executives said, are increasingly cautious about taking on too much new debt, particularly after efforts to replace the Affordable Care Act failed last month, raising doubts about whether the president can get pro-business measures like tax cuts through Congress. And such political uncertainty comes at a time when the Federal Reserve has embarked on raising interest rates, which will make borrowing costlier.
“They all want to believe that there is more growth ahead, but they need to see something out there before they act,” John Shrewsberry, the chief financial officer of Wells Fargo, said in an interview.
