Economists and investors assess the impact of Biden's decision to withdraw from U.S. presidential race on everything from economy to stock market.
President Biden's announcement that he is dropping out of the race for the White House and endorsing Vice President Kamala Harris to be the Democratic candidate has prompted investors and economists to reassess the campaign's impact on everything from the stock market to the so-called 'Trump trade.'So far, U.S.
The Fed is also widely expected to start cutting interest rates at its September meeting, a step that could help ease borrowing costs for homebuyers and businesses, potentially also spurring investment and spending.'nvestors should remember that U.S. political outcomes are far from the largest driver of financial market returns, or even sector performance,' said Solita Marcelli, chief investment officer Americas at UBS Global Wealth Management, in an email.
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