U.S. Election

The Exchange: Stephanie Kelton

11 Aug 2020

As budget deficits swell, one of the highest profile advocates of Modern Monetary Theory joins Swaha Pattanaik to discuss her approach to public finances, U.S. presidential hopeful Joe Biden’s economic agenda, how her thinking evolved, and her experience of academic gatekeeping.

Joe Biden would grapple with Big Tech, too

5 Aug 2020

Donald Trump’s interventions over the TikTok app are unusual. But national security worries are bipartisan. Both candidates are also suspicious of tech giants, for different reasons. Though Silicon Valley donors have more in common with Biden, they can expect friction either way.

Market election jitters have a special Trump twist

30 Jul 2020

Some money managers are wondering if U.S. President Donald Trump might dispute the outcome of a November vote if he doesn’t win. That would unleash asset price ructions. Buying protection will be pricey: there’s already a hefty election premium embedded in currency options.

Big Tech bosses face hot air and hard truths

29 Jul 2020

Bosses of Apple, Amazon, Facebook and Google faced a predictable array of silly questions during their Washington hearing. But they also faced some pointed examples of their firms throwing their weight around. Cook, Bezos, Zuckerberg and Pichai have some self-examination to do.

Silver rally may have a bright, green future

23 Jul 2020

The white metal’s price is up more than gold's so far this year. Silver’s industrial uses mean it shines when lockdowns lift, but there’s a political dimension too. As an ingredient in solar panels, it could benefit from U.S. presidential hopeful Joe Biden’s clean-energy plan.

“America First” mantra is here to stay

22 Jul 2020

President Donald Trump says election rival Joe Biden’s $700 bln "Buy American" plan is policy plagiarism. Both are running partly as economic nationalists. Biden would repair international relations, but he's no fan of globalized supply chains or unfettered trade.

Biden’s climate smorgasbord lacks some key dishes

15 Jul 2020

The presidential hopeful borrowed plenty of ingredients for his four-year, $2 trln plan for clean infrastructure and energy. It lacks detail and omits the role of private investors and the fate of fossil-fuel firms. But his politically well-pitched proposal has broad appeal.

Biden task force lacks sense of dollars

9 Jul 2020

A wish list from the U.S. presidential candidate’s advisers runs the gamut from universal healthcare and zero emissions to racial equity and infrastructure spending, plus tax increases. Missing is much, if any, clarity on the financial equation. Trillions of dollars are at stake.

Biden policy palette would paint Wall Street blue

9 Jul 2020

Proposals from a task force working for the U.S. presidential hopeful would leave high finance worse off, from splitting up banks and raising taxes to giving Americans accounts at the Fed. They’re just ideas, but the broad outlines of a Democratic presidency are becoming clearer.

Coronavirus tanks Trump’s election economy

6 Jul 2020

The U.S. president was cruising toward re-election, by one academic model based on GDP per capita and prices. Then the pandemic hit. The model isn’t built for such dramatic swings but it still tells a story. A sharp recession is one of few events that could put a Democrat on top.

Twitter can’t please everyone but still has to try

28 May 2020

Fact-checking a President Trump tweet has put founder Jack Dorsey in a political spotlight he had previously avoided. A spring clean of tweets is good for business in the long term. But unlike peers, Dorsey needs to please shorter-term investors too, like activist fund Elliott.

Chaotic 2020 rips up America’s electoral script

14 Apr 2020

This year’s presidential primary season has been full of plot twists – from the Iowa debacle to Joe Biden’s comeback to, of course, Covid-19 and the unprecedented economic upheaval. Breakingviews imagines a lecture given in 2050 on the year U.S. elections changed forever.

Bernie Sanders may yet get his healthcare dream

8 Apr 2020

The U.S. senator from Vermont, who pushed the Democrats to the left, has suspended his campaign to be the party’s presidential nominee. The Covid-19 pandemic helped end his bid, but it could also bring closer his signature goal – remaking America’s dysfunctional medical system.

Virus adds edge to Democratic healthcare debate

11 Mar 2020

The party’s top two presidential candidates have very different ideas for overhauling the U.S medical system. Bernie Sanders’ national health service plan would cost some $12 trln more than Joe Biden’s goal to augment what’s already in place. Covid-19 puts the issue center stage.

U.S. Midwest election ditches free trade boogeyman

11 Mar 2020

Former Vice President Joe Biden scored a huge win in Michigan’s Democratic presidential primary. Senator Bernie Sanders’ attacks on trade deals didn’t resonate like in 2016. Tariff wars have hurt the region, lowering Donald Trump’s popularity and changing the economic calculus.

Viewsroom: Fear factor

5 Mar 2020

U.S. Fed Chairman Jerome Powell surprised markets with a rate cut ahead of schedule. Democratic presidential contender Joe Biden unexpectedly won the most states on Super Tuesday. Covid-19 may show up in China M&A clauses. The coronavirus is inspiring flights to safety.

White House race mirrors corporate diversity trap

5 Mar 2020

Senator Elizabeth Warren dropped out of the race to become America’s first woman president. More females are in Congress and closer to the C-suite than ever, but the pipeline breaks down at the top. In politics, voter whim plays a big role. Companies don’t have that excuse.

Biden is political equivalent of 10-year Treasury

4 Mar 2020

The former vice president is the Democrats’ preferred candidate for president so far, after winning at least nine states on so-called Super Tuesday. His surge shows that, like investors, voters are seeking a safe haven in uncertain times. It’s bad news for the current president.

YouTube makes itself a needless political football

21 Feb 2020

President Trump has bought prominent ads on the video platform on Election Day. That’s because YouTube has enormous reach. Yet, parent Alphabet is in regulators’ crosshairs and campaign money is a tiny slice of revenue. It’s a wonder why it accepts political ads at all.

Bloomberg throws Wall Street under campaign bus

18 Feb 2020

The financial-data mogul’s plan to curb his top clients if he becomes U.S. president preempts criticism he’s too close to them, and his status makes ideas like a transaction tax credible. But Bloomberg probably won’t push it beyond the minimum needed for Democratic acceptance.