If President Donald Trump were to be impeached in the wake of his ex-attorney’s implication he broke campaign finance law, the stock market would take the news in stride, Politico’s Ben White reports.
“That’s the consensus view of Wall Street traders and money managers, who say that while an ugly impeachment fight might cause temporary volatility, markets could easily survive an impeachment and even the unlikely event that Trump is removed from office in a Senate trial,” White reported Thursday.
“In fact, Wall Street pros often talk about a potential relief rally if Trump departs the White House early,” White adds.
Vice President Mike Pence — who would assume the presidency if Trump resigns or is forced out — would stick with Trump’s agenda of low taxes and deregulation. Pence would also be much less likely to inspire wild news cycles and threaten international trade wars. A Trump exodus would look like a blip on the stock market, if it appeared at all, White reports.
White reported a much bleaker story in 2016 should Trump be elected president of the United States. (RELATED: Media Predicted Economic Collapse Under Trump — It Didn’t Happen)
“Wall Street is set up for a major crash if Donald Trump shocks the world on Election Day and wins the White House,” White lead off in a story titled, “Economists: A Trump win would tank the markets.”
White’s report focused on research done by Justin Wolfers of the University of Michigan and Eric Zitzewitz of Dartmouth College. The study “suggests that financial markets strongly prefer a Hillary Clinton presidency and could react with panicked selling should Trump defy the polls and deliver a shocking upset on Nov. 8,” White reported at the time.
“Obviously, a lot of people got market react to Trump wining wrong,” White told TheDCNF in an email. “But the underlying idea, that the economy and markets were strong pre-Trump, also holds now that they would be strong post-Trump, should it come to that. And his economic and regulatory policies, outside of trade, are already in place and would continue with him.”
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