What to expect from Trump's second term: macro and market implications
Discover how Trump’s second term policies may reshape the global economy and markets, impacting growth, inflation, and investor strategies
As the dust settles on that momentous US election, our economists have outlined their core views on how the US election has reshaped the global macro and market outlook. Download this report to learn:
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Why lower global growth will be lower – and inflation will be higher;
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How the impact of higher tariffs on China will be smaller than most anticipate;
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Why the Fed will now cut rates by less than previously assumed, though its independence will likely remain intact;
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Why investors should expect higher Treasury yields and a stronger dollar – but also why we aren’t raising our US equities forecasts any higher.
We think the immediate effects will be smaller than many seem to fear. This is not to say that Trump’s re-election doesn’t matter – just that the consequences are unlikely to be found in changes to global GDP growth over the next year.
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Trump's second term
Key insight into how the re-election of Donald Trump could reshape the global economy and markets