Markets Looking Forward to Biden Era

January 19, 2021 James Heinsman Economic Barometer

President Joe Biden’s economic agenda will focus on “building back better,” says Fraser Lundie, head of credit at Federated Hermes, a Pittsburgh-based capital management house with $575.9 billion under advisement. As the week of the presidential transition began, Lundie spoke to Bloomberg News, adding his view that renewable energies would remain a strong investment pattern in the coming year.

Photo by Alex Proimos

In a separate video short, Lundie’s colleague, Federated Hermes Chief Investment Officer Stephen Auth predicts the new administration will be a “mixed blessing” for investors, but ultimately predicts market forces to win out over politics to drive a strong year for Wall Street.

If the new administration focuses on “heavy tax programs… I think that’s probably not positive for markets. On the other hand, he’ll spend a lot of money and that is positive for markets,” he says.

Biden Administration,

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