In Summary
The outcome of the upcoming November elections will have long-lasting and nuanced effects on the macroeconomic landscape and financial markets. That said, when the dust settles, we do not see the country’s future economic trajectory deviating dramatically based on our election framework. At the moment, the U.S. economy is maneuvering a game of confidence. During the COVID-era, the public sector buoyed the labor market, however, moving forward we anticipate the private sector playing a much more active role in propelling the economy forward on a self-sustained basis. In our view, the presence of a supportive monetary and fiscal environment is critical for confidence and growth.
We believe that the U.S. economy is in the mid-cycle business phase and the current economic expansion likely has more room to go, which creates meaningful implications for market dynamics and portfolio positioning. To learn more, read our latest report on the mid-cycle narrative from our series, “The Long and Short of It” by The Office of the CIO at Rockefeller Global Family Office.