Likely political makeup of Washington: Election outcome remains too close to call
Key features:
- The failure of either party to get a clean sweep will hamper new policy initiatives
- If President Trump stays in power, basic policy agenda will remain as it has been
- Fiscal loosening will still be on the agenda but a large package is now unlikely and tax hikes are less likely
- A shift in trade talk with global partners – a less aggressive tone is likely with Biden
- Refocus on global partnership – no change under Trump
