Trends with Benefits #34: John Faso on the Implications of the Presidential Election
10 November 2020
In this episode I speak with John Faso, former U.S. Representative for New York’s 19th congressional district about the state of politics and the recent election. What does a Biden administration mean for taxes, municipalities, climate policy and China?
Now What?
Last week, U.S. presidential elections were held and as many predicted, a certain outcome wasn't immediately available. However, over the weekend it became clearer that Joe Biden would edge out Donald Trump, but also that a blue wave wouldn’t materialize. Notably, while not totally finalized, it appears the Senate will remain in Republican control and the House of Representatives remains under the Democrats control.
The stock market seemed to respond well to the potential election outcomes and was actually up, which might surprise some who consider Democrats to be less friendly to Wall Street than Republicans. This may be a reflection of the market's belief that a divided government is a good outcome where a Republican Senate can counter progressive Democrats' spending proposals.
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