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Keith WADE, Chief Economist, Schroders discusses why stimulus hopes are fading as the result of the US Presidential election remains uncertain:
"The outcome of the US election is not known yet, but once again Donald Trump has confounded the pollsters by winning key swing states and repelling the predicted Blue wave.
Joe Biden could still become president, but Democrat hopes of winning the Senate are fading. That means we are looking at a divided Congress and a continuation of the gridlock which has prevented the latest fiscal package from passing in recent months to support the Covid-stricken economy.
Markets, which had begun to factor in a Democrat sweep and a significant stimulus bill, are now reining in their growth...
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