Wharton finance professor Jeremy Siegel said markets were already pricing in a second Trump appearance after Saturday’s assassination attempt on the former president raised his odds of winning the November election. rise. “I mean, the market is going to prefer (Donald) Trump. He’s more free market for economic growth, he’s anti-regulation,” Siegel told CNBC’s “Squawk Box” on Monday. “In the short term, , I mean, as you know, it’s not just a question of whether we’re going to let free markets and economic entrepreneurship bubble up like they did during Trump’s first term,” Siegel continued. “I think that’s what the market is looking for right now. Are these entrepreneurial spirits going to pick up again and lift the stock market?” Siegel’s comments came after Trump’s assassination increased the possibility of Republicans winning the presidency for a second time. PredictIt, a widely followed prediction market, showed the likelihood of Trump winning rising from 60% on Friday to 66% on Monday. After Trump was elected in 2016, stocks initially performed well. Lower corporate tax rates and increase corporate profits. However, the following year, the overall index fell by more than 6% amid concerns about an economic slowdown, tightening monetary policy and an intensifying trade war between the United States and China. Siegel said Trump’s proposed 10% tariff increase would worry investors, but he thought the market would likely ignore that concern. “They’re not excited about tariffs,” Siegel said of Wall Street. He said, “But the fact is that Trump likes to use tariffs as a threat to negotiate a better position in bilateral trade,” and it is doubtful whether a 10% tariff will be imposed across the board on all imported products. Even if higher tariffs were imposed, “you know, there are a lot of things that could certainly offset that.”
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved