2024-07-27 01:20:00 ET
Summary
- Amid high inflation and low housing affordability, and despite a strong economic backdrop, the upcoming U.S. election is expected to be one of the most contentious in history.
- Inflation is trending lower, supporting Federal Reserve rate cuts.
- Cyclical and secular economic factors tend to influence the market more significantly than politics - election noise shouldn't prompt drastic changes in portfolio allocations.
By Seema Shah, Chief Global Strategist
Heading into a contentious U.S. election season, investors need to avoid the noise and remain focused on the factors that will drive markets in the period ahead, including U.S. trade policy (particularly with China), geopolitics (particularly any impact on oil markets), and fiscal deficit management (given the CBO projection that the U.S. budget deficit is set to rise to 122.4% of GDP by 2034)....
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U.S. Election: Policy And Positioning