If Trump wins a second term, stocks would likely get a boost, Nobel winner Robert Shiller says (via TradingNation)
If President Donald Trump wins a second term, it could prolong the bull market and delay a recession, Nobel laureate Robert Shiller says.
"It also seems likely that when Jerome Powell's term as Fed chairman expires, he'll bring someone in that he controls more, and bring someone who can stimulate the economy without worrying," the Yale University economics professor said Monday on CNBC's"Trading Nation.""It's also that Trump is a model for extravagant living and big spending. All these things are boosting of the stock market.
Since Trump won the presidency in November 2016, the Dow and S&P 500 and Dow have rallied 44% and 35%, respectively. Along the way, there were corrections in February 2018 and December 2018. But Shiller points out the subsequent rebounds were encouraging — at least to a certain extent. That's where his economic and market outlook gets cloudy. Shiller, who has been making comparisons to the excesses of the Roaring '20s and the current bull market, is still on recession watch. He lists a contraction as a top risk to the market.
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