U.S. Election

Middle East is complicating West’s grand strategy

15 Apr 2024

The U.S. and its allies wanted to focus on Russia and China. But the Gaza war - and now a conflict between Iran and Israel - is distracting them. It has also undermined support from poorer nations and boosted Donald Trump’s chances of returning to the White House.

Joe Biden out-MAGAs Donald Trump

14 Mar 2024

The US president is siding with union workers who oppose a US Steel takeover by Japan’s Nippon. He also said he would sign a bill forcing TikTok’s Chinese owner to sell the popular app or see it banned. The ad hoc approach to national security concerns sets a dangerous precedent.

White House race puts lots of fine print at stake

5 Mar 2024

Super Tuesday contests may solidify former President Trump’s shot at a 2020 rematch. November’s ballot will decide not just big-picture issues, but a host of smaller tweaks – like financial or climate rules – where a victorious Trump could roll back President Joe Biden’s legacy.

Joe Biden 2.0 offers chance at less global tension

19 Feb 2024

In a second term, the US president might preside over less fractious geopolitics and trade friction. He also could make a fresh push to fight climate change. American allies shouldn’t get their hopes up, though; such an agenda would face obstacles at home and abroad.

Infrastructure may take toll on big asset managers

14 Feb 2024

Investors have sunk $1 trln in safe, stable assets; BlackRock just made a $13 bln bet on the sector. But success has been spotty and higher rates make investing harder. Plus the definition of infrastructure – which includes laundry and Scandinavian fish farms – is stretching.

The United States will go from MAGA to MAWA

21 Dec 2023

‘Make America Worse Again’ won’t be a campaign slogan, but it’s a vibe. Joe Biden’s policies brought jobs onshore, helped the energy transition, and delayed a downturn. But 2024 will bring infighting that worsens the nation’s financial standing and an electoral test of democracy.

Money can’t buy Ken Griffin political happiness

29 Jun 2022

Citadel’s founder backed an Illinois candidate for governor with a $50 mln donation but lost. The winner, a farmer, also has deep-pocketed backers. He will go up against Hyatt heir J.B. Pritzker. As billionaires on both sides up political stakes, they will cancel each other out.

Financiers may pave U.S. campaign trail with gold

27 May 2022

With ex-Bridgewater boss David McCormick questing for a Senate seat, more Wall Streeters could try their hand at politics. Wealth built in bull-market times can give even novices a lift. And from Ken Griffin to Jamie Dimon, there’s no shortage of finance bosses with strong views.

Biden and business are midterm election pair trade

20 Dec 2021

The U.S. president handed corporate chiefs a good year – his moves to help the economy helped them too. If his power wanes after 2022’s Congressional elections, Biden will struggle to wield the stick meant to follow the carrot. A weaker White House means a stronger hand for CEOs.

Political spotlight on Carlyle after U.S. election

3 Nov 2021

The buyout firm that once employed George H.W. Bush worked for years to shed its reputation as a shrewd Beltway operator. Former co-CEO Glenn Youngkin’s win makes him Virginia’s next governor. That gives him presidential potential, and puts Carlyle back on the Washington map.

Viewsroom: Biden’s inauguration, China’s stresses

21 Jan 2021

The new U.S. president arrives with a long to-do list, good intentions and a swelling national debt pile. Gina Chon and Richard Beales talk with John Foley about what to expect. Plus: New lockdowns bring fresh financial problems in China, as Yawen Chen and Pete Sweeney explain.

Biden’s dream team faces a nightmare

20 Jan 2021

The pandemic has worsened structural economic problems: the poor have gotten poorer, marginalized people are losing jobs quicker, and the workforce is further out of reach for the unemployed. The new U.S. president has chosen experienced aides. But they will need imagination too.

Economic fixes can make 2024 election less fraught

20 Jan 2021

Joe Biden has many goals, but one ought to be making the next election smoother than the last. An inequitable job market keeps voters from polls while gerrymandering helps keep wealth in areas that already have it. Electoral and economic systems are linked; both need an overhaul.

Federal debt monster lurks for Biden, Yellen & Co

19 Jan 2021

The U.S. president-elect’s pick to lead the Treasury says going big with coronavirus relief is smart for now. But debt at 100% of GDP and counting will inevitably become a millstone. Big-ticket agenda items, from higher taxes to lower defense spending, can’t be avoided for long.

Biden’s $2 trln rescue tests his art of the deal

15 Jan 2021

The U.S. president-elect has an ambitious stimulus plan, including $1,400 payments for individuals. It includes liberal causes like boosting the minimum wage to $15 an hour. Biden has touted his skills negotiating across the aisle. With a 50-50 Senate, he will have to compromise.

Billionaire donors outrank companies in Washington

14 Jan 2021

Firms from JPMorgan to AT&T are rethinking political donations after last week's Capitol violence. That will dent lawmakers' coffers. But it’s people like the late Sheldon Adelson and Mike Bloomberg who have far deeper pockets, and the power to make politicians sit up and listen.

Biden’s SEC pick is ominous sign for Wall St

13 Jan 2021

Former banker-turned-industry critic Gary Gensler will be a thorn in the finance industry’s side if he takes the helm at the U.S. watchdog. He rammed through Dodd-Frank reforms when he was CFTC chair. In his new post, tougher enforcement is likely, which will cheer progressives.

Yellen can kick off Biden’s more open government

7 Jan 2021

The $7 mln the former Fed chief earned giving speeches to Wall Street and other firms could haunt Janet Yellen as Treasury secretary. For one, she’ll need progressives to back her policies. Transparency, like releasing transcripts of those talks, could help set the right tone.

America’s safe-haven status gets violent test

6 Jan 2021

An invasion of the seat of government by supporters of a president who defies democratic principles ought to worry those who treat dollar assets as a sanctuary. What matters for investors is whether the U.S. system prevails. Even if it does, they should not assume it always will.

Georgia vote may give companies half-full glass

6 Jan 2021

Democrats could eke out a Senate majority in a runoff race that’s too close to call. The slim margin would hand more power to moderates on issues like green energy and taxes, in turn helping offset greater scrutiny of firms. Either way, Corporate America can avoid the worst.