Donald Trump

President-elect Donald Trump listens to a question as he talks to reporters after meeting with Alibaba Executive Chairman Jack Ma at Trump Tower in New York, Monday, Jan. 9, 2017.

(Evan Vucci | AP Photo)

Alan Beaulieu talks to the Economic Club of Grand Rapids in 2010.

GRAND RAPIDS, MI -- Anyone concerned about the impact last November's presidential election might have on the national economy should think twice, according to economist Alan Beaulieu.

Beaulieu, a principal and president of New Hampshire-based ITR economics, painted a bright portrait of 2017 economic growth during the Economic Club of Grand Rapids luncheon on Monday, Jan. 9.

But before digging into the specifics of his forecast, the well-known economist addressed concerns some may have surrounding the incoming presidential administration.

Beaulieu told local business leaders that any fears of how a Donald Trump presidency might impact markets should be set aside.

"The economy doesn't really care who's president," Beaulieu said. "You voted. America spoke. And it makes no difference, is what I'm here to tell you."

Statistics show that the national economy neither performs better under a Republican or Democratic presidential administration, he said.

"It's a statistical tie," Beaulieu said.

Many indicators suggest steady economic growth during 2017, he said, and the actions of a new president would likely not make a difference -- at least not right away.

"Nothing happens quickly," Beaulieu said. "Whatever a new administration does takes time to have an impact on the economy. Nothing happens immediately."

He said markets typically will not feel the pinch from a major change out of Washington for 18 months or more.

Given the fact that a mild recession is projected for late 2018 and into 2019, Beaulieu said it is unlikely that Trump will serve as president for more than four years.

"If you don't like Mr. Trump, be of good cheer, he's probably a one-term president," he said. "Because in the United States, we do not like to reelect presidents if we are in a recession."

Monday was Beaulieu's seventh presentation to the Economic Club. His firm has an impressive track record of predicting economic trends, boasting success rates in the high 99th percentile for many of its 2016 predictions.

While there are likely bumps ahead for the economy, Beaulieu said, ITR's forecast suggests the country's new president will not do anything to impact the trend of growth expected for 2017.

Growth in the country's gross domestic product and many other indicators -- all occurring prior to November's election -- all suggest continued growth in the new year.

"I hope that makes you feel better about the changes that are happening," Beaulieu said. "We'll all have plenty of time to see what's coming and to adjust to it. One thing America does very well is to adjust."

And the much higher rate of construction, housing growth and other factors specific to the Grand Rapids area make the future even better for local leaders, he said.

"It's really great to be you," Beaulieu said.