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Powell Remains Defiant Despite Trump’s Victory.
The 2024 (s)election
Are you ready for this? Both American politics and the financial markets have had a watershed week. After Donald Trump’s election victory, the S&P 500 soared to an all-time high.
The (s)election of a clear winner for president was, to some extent, a relief for investors. Many people put their money into the stock market because they think the Trump administration will deregulate and slash taxes.
The sudden uptick in optimism contributed to a decline in precious metals and other safe-haven assets.
It is not surprising that metals merchants reacted knee-jerkly to the election outcome. At this point, it is merely a reaction, not necessarily a big shift in the trend.
The saga continues…
The size of Trump’s triumph was the most shocking aspect of the election results, according to the majority of media analysts and pollsters. Nobody anticipated that he would win every swing state or even the popular vote.
The “Trump” effect
In his acceptance address, Trump asserted that the people had given him a strong mandate to restore greatness to the United States. The removal of illegal immigrants and the reinforcement of the border are his primary…
