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| Economy |
| The Market Doesn't Like What It's Seeing in the White House |
| 2017-08-18 |
| [Fiscal Times] After corporate CEOs abandoned President Donald Trump, markets are worried Trump's key advisors and Cabinet members will be the next to leave him, threatening his economic agenda. But political strategists doubt the key financial advisors like Gary Cohn, director of the National Economic Council or Treasury Secretary Steven Mnuchin are close to resigning. The two former Wall Street executives have high credibility in the markets and are viewed as key drivers of the Trump economic agenda, particularly tax reform. "For the first time, people are now questioning if he can get anything done policy-wise. His agenda is under threat," said Peter Boockvar, chief market analyst at The Lindsey Group. Stocks slumped Thursday morning as rumors circulated that Cohn was leaving the White House. They recovered slightly after it was denied by the White House, but selling again accelerated and the Dow closed off 274 points at 21,750, its worst day in three months. "I think it's Trump-related. People are worried about the unraveling of his team, his administration's authority and what this means for tax reform. Every day, he makes a new enemy in Congress. Today's he's picked a fight with [South Carolina Sen.] Lindsey Graham," said Boockvar. |
| Posted by:Besoeker |
| #6 Most large corporations have big money invested in continued globalisation. A reversal in those policies will cost them a lot. But it will be a major opportunity for small and medium sized busineses, without money in the globalization game. |
| Posted by: phil_b 2017-08-18 22:17 |
| #5 Have they noted the major stock indexes since Jan. 20th? Too obvious, I suppose. |
| Posted by: Raj 2017-08-18 11:52 |
| #4 Like what JohnQC said. |
| Posted by: Anomalous Sources 2017-08-18 10:32 |
| #3 There's what is actually happening in the WH and then there is what the MSM says is or is not happening in the WH. |
| Posted by: JohnQC 2017-08-18 08:39 |
| #2 White House. How about a Trunk Congress that won't repeal the biggest albatross on business' necks or provide economic intensives that aren't solely oriented to rewarding political hacks. |
| Posted by: Procopius2k 2017-08-18 08:00 |
| #1 When 'big business' thought a corporate tax break was possible, they swooned over President Trump. Now that he's being betrayed by his own party as well as obstructionist dems, there appears to be little hope for tax relief passage. Follow the money. |
| Posted by: Besoeker 2017-08-18 07:52 |