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Now for the Hard Part: Investing After the US Elections
Even under a best-case cliff scenario, the US economy is likely to run into trouble next year. A probable hike in payroll taxes and lapse of extended unemployment benefits alone would slice the current 2% gross domestic product (GDP) in half. This could cool appetite for US assets from global investors already suffering a mild case of cliff jitters.
-Lee Kempler, executive director, BlackRock
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