We can pretend that it is the president….or Congress…..or even the people….all would be truly ignorant answers…..the real power at the helm of the nation is……the “Markets” control it all.
You really believe that it is different?
For instance Donald the Orange called off any more stim packages until after the election….and the markets fell drastically….
Stocks turned sharply lower on Wall Street Tuesday afternoon after President Donald Trump ordered a stop to negotiations with Democrats on a coronavirus economic stimulus bill until after the election. The S&P 500 index slid 1.4% after having been up 0.7% prior to the president’s announcement, which he made on Twitter about an hour before the close of trading. The late-afternoon pullback erased most of the benchmark index’s gains from a market rally a day earlier, the AP reports. The S&P 500 fell 47.66 points to 3,360.97. The Dow Jones Industrial Average dropped 375.88 points, or 1.3%, to 27,772.76. It had been up by more than 200 points. The Nasdaq composite lost 177.88 points, or 1.6%, to 11,154.60.
The comments from the president came just hours after Federal Reserve Chair Jerome Powell urged Congress to come through with more aid, saying that too little support “would lead to a weak recovery, creating unnecessary hardship for households and businesses.” Optimism that Democrats and Republicans would reach a deal on more stimulus ahead of the Nov. 3 election had helped lift the stock market recently. Now, investors face the prospect that more aid may not come until next year, after the new Congress is seated, says Willie Delwiche, investment strategist at Baird. “This isn’t just pushing it off until after the election, this realistically is pushing it off until spring,” Delwiche said. “I don’t think this is just a one-day financial markets reaction. This really goes to the health of the recovery.”
Then after the fall Donald the Orange had to try and save the markets with the less than 30 days away he needs all the good news he can steal just to keep what little support he has now…..