Will Political Changes Affect the Economy?
Election years cause some anxiety.
Provided by Jamie Hansman
With all of the storm and stress of the year 2020, you’d be forgiven if you momentarily forgot that we’re due for another national election in November. Many states will be selecting governors, representatives, and senators, while the country itself will be voting in the presidential election.
Even though these elections happen every four years, they often breed uncertainty or anxiety about the financial markets and other investment matters. Some of our personal political beliefs may be informed by our economic worldview. For that reason, it’s natural that presidential elections are seen as potential turning points for the economy.
It’s important to keep in mind that while the White House has enormous influence on economic policy, ambitious policies frequently find challenges in the legislative and judicial branches.
It’s also important to keep in mind that in the wake of COVID-19 there are other factors that can influence the financial markets.1
Your financial professional helps you craft an investment strategy, one that may run through several presidents and many sessions of Congress. Naturally, you may have questions about how these policies might affect things in the short term, and they look forward to a chance to discuss them with their clients.
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- NYTimes.com, July 29, 2020