It’s clear from the stock market’s strong performance yesterday that Wall Street has a clear favorite in the election. The winner? Gridlock. With a Republican-controlled Senate and Democratic-controlled House of Representatives, the final winner of the White House will be hamstrung. They won’t be able to pass their party’s agenda.
But they will be able to engage in bi-partisan handouts. The most likely first stop is in another stimulus plan. That’s why the stock market soared as the election uncertainty ended. With some big potential changes in tax rates or regulating the healthcare industry off the table, corporate America isn’t expecting any big changes… at least until the next election.
Now here’s the rest of the news:
Regardless of who wins the White House, next year should usher in a new era of growth. First, let’s examine the near-term risks. Don’t get me wrong, the outlook for stocks remains positive over the long term.
As Americans this week nervously await the official winner of the presidential election, all eyes have turned to our country’s interim leader. I’m referring to Jerome Powell.
The coronavirus crisis is getting worse, Congress is mired in political paralysis, and the presidency hangs in the balance. In this vacuum, the U.S. central bank has been functioning as a de facto fourth branch of government. That makes Fed Chief Powell a highly influential voice.
A new fiscal stimulus bill might get enacted during a post-election lame duck session of Congress, but in this fractious political climate, the odds aren’t good. We’ll probably have to wait until 2021, a reality that makes the Federal Reserve the major player right now in shoring up the pandemic-wounded economy.
November 05, 2019
When is too much of a good thing too much? Or too little, too late? What have you done with your first million dollars earned? Questions without answers. Here’s todays’ DarrenDaily…
Why? Why can’t people see what we see? Why don’t they get excited about the benefits we offer?
The answer is how we communicate with people. This attention, retention, and remembering is accomplished best with a story. Stories are the most natural way of learning and remembering. We can’t remember facts one hour later, but we remember movies years later. When we deliver information in a story format, our listeners pay attention and remember.
An easy solution to a difficult problem. Try to include our most important facts within a story, and we will make a difference in our listeners’ lives.
Problem solved! 😉