During the campaign, Donald Trump made many vague statements and generalities. But he has laid out several economic policies, including lowering the business tax rate from 35 to 15 percent and dismantling the Dodd-Frank act (regulations passed for Wall Street transparency following the recession).
Trump said on his transition website that "bureaucratic red tape and Washington mandates are not the answer" to economic growth.
But Trump has shied away from specifics in many cases, making this a very unusual President-elect transition, said Ken Goldstein, an economist with The Conference Board, an independent business membership and research association.
"One of the big shocks is running a business and running a $17 trillion economy is not nearly the same thing. He's going to depend on his advisers and the people that he appoints to various cabinet positions to give him proposals," said Goldstein. "On that side, it's more unusual than is typically the case."
For New Yorkers, Goldstein said tax cuts and peeling back Dodd-Frank could result in freeing up capital that people can use for entertainment, like restaurants and Broadway shows.
"That's money earned downtown, spent uptown," he said, but added it is a "boatload of if's" at this point.
Another of Trump's promises, renegotiating trade deals, could have an even bigger impact on New Yorkers, said Lawrence White, a professor of economics at NYU's Leonard N. Stern School of Business.
"He thinks it's a one-way street that 'oh we'll just cut back on what we'll buy and that won't affect what we sell,' but sorry the world doesn't work that way," White said. "For one thing there will be retaliation. Even in the absence of retaliation, if we buy less from abroad there are going to be adjustments in the exchange rate, which will then make it harder for us to sell abroad."
While White said it won't devastate the city's "very robust economy," it also won't be very beneficial. (Credit: Getty Images North America / Spencer Platt)