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If President Donald Trump wins a second term, it could prolong the bull market and delay a recession, Nobel laureate Robert Shiller says.
Shiller, who is known for his behavioral finance research, believes the president’s pro-business policies would resonate with Wall Street for another four years.
The article goes on to state the following:
“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.”
A weekend report by Goldman Sachs economists said Trump has a “narrow advantage” in the 2020 election. Not only did it find incumbents generally have a built in bonus of 5 to 6 percentage points in the popular vote, the economy’s relatively strong performance ahead of the election bodes well for the president.
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