Election 2024
Election Preview
Analysts are watching both Vice President Kamala Harris and former President Donald Trump for potential regulatory picks, as well as how strongly Trump advocates for policies like tariffs and deportations that could impact the economy, inflation and bankers' prospects.
Markets welcomed the news of a second Trump presidency.
"If you had the Trump trade on for the last six weeks, it's been outstanding," said Ed Al-Hussainy, a rates strategist at Columbia Threadneedle Investment. "The question is these winning runs don't last forever and is this a good time to take profits."
While the message from investors is broadly positive, there is also a stern warning in the market gyrations.
The surge in Treasury yields underscores concerns that Trump's policies will swell an already bloated budget deficit and reignite an inflation spiral that the Federal Reserve was only just finally quelling in the wake of the pandemic.
It's the latest proposal for a type of national infrastructure financing structure in lieu of the municipal bond market.
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The failures of Silicon Valley Bank, Signature Bank and First Republic shook the banking system and sparked renewed debate among regulators and lawmakers about deposit insurance, bank capital and liquidity rules and resolvability. One year later, some of those policy debates have fallen by the wayside while others have been amplified.
After Republican presidential nominee Donald Trump said he intends to place a temporary cap on credit card interest rates, many felt the plan would create a large constriction of credit.
Merchants and card networks have battled over interchange rates for years. How will the next president change the fight?
The Federal Home Loans Bank System is under pressure to fund more affordable housing and has several proposals that may work in tandem with Vice President Kamala Harris' goal of building three million new units in her first term.
President Joe Biden, in a speech emphasizing the progress made on the economy during his administration, said he has never called Federal Reserve Chairman Jerome Powell during his time as president.
A huge amount of money has flowed into the election from cryptocurrency interests, setting up a different financial policy scene, including for bankers, next year.
Reading the tea leaves this election for bank policy is more difficult than years past, experts say, but there are still hints about where former President Donald Trump and Vice President Kamala Harris stand.
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Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.
August 16
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Political contribution data shows that individual bankers have donated more to the Biden-Harris ticket than Trump in 2024, but overall have contributed more to Republicans than Democrats this cycle.
August 15
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Over the weekend Republican vice presidential nominee Sen. JD Vance, R-Ohio, said setting interest rates should be a "political decision" with input from elected officials.
August 13
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As the 2024 election season once again puts the Federal Reserve's independence under a microscope, some observers see a weakness in one of the landmark policy arrangements that undergird the financial system as we know it.
August 8
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Governor Tim Walz, whom Vice President Kamala Harris selected as her running mate Tuesday, has a slight but progressive record on financial policy, suggesting a potential leftward shift in banking policy in a prospective Harris administration.
August 6
