The election of Donald Trump was a reaction to poor growth and should therefore not have been a surprise, says the founder of the Milken Institute.
According to Mike Milken, currently chairman of the eponymous economic think tank, the driving force behind Trump's victory was the so-called working poor – those who have jobs but struggle to make ends meet and feel they have been left behind as the economy has developed.
"One of the objectives of the financial markets is to create opportunities for everyone and make everyone feel they can participate in the economic system," Milken told CNBC Tuesday.
"And so many people both in the United States and Europe feel that when they look at the median income it is lower today than it was at the start of this century. They are demanding changes and hopefully our economic situation will meet those demands."