Expected Elections

With Republicans holding the Senate and Democrats taking the House, expect meaningful economic policy changes to take a break through 2020. Congress must ratify NAFTA 2.0 and the debt ceiling must be raised, and those will undoubtedly be accompanied by real theatrics. An infrastructure bill is possible, as are some small tax policy changes, but that’s it. As for possibly intensified political pressure on President Trump, markets will ignore it.

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