Investors anticipate lower taxes, deregulation and volatility
With Donald Trump heading back to the White House, Wall Street is anticipating the potential for lower taxes, deregulation and a U.S. president who is quick to sound off on everything from the stock market to the dollar.
Edison Research projected on Wednesday that Trump had secured more than the 270 Electoral College votes needed to win the presidency. The U.S. economy grew by an annualized rate of 2.8% in the third quarter of 2024, compared to just below 2% in 2016. And while months of restrictive monetary policy have helped tamp inflation down from four-decade highs hit in 2022, some investors worry tariffs or tax cuts could send consumer prices higher again. By contrast, sluggish inflation and growth were concerns for the Fed eight years ago.
“There are still going to be some question marks as to how aggressive Trump does go with tariffs, and that’s going to be a story regardless of the composition of Congress, given that can be pushed through via executive action,” said Garrett Melson, portfolio strategist at Natixis Investment Managers.
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