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.
During Donald Trump's last presidency, the massive merger that created Truist shook up the industry. What's coming this time around?
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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.
During Donald Trump's last presidency, the massive merger that created Truist shook up the industry. What's coming this time around?
The Federal Reserve's top official was emphatic that he and other leaders on the Board of Governors cannot be dismissed or demoted at will by the president.
At a minimum, president-elect Donald Trump can make two appointments to the Federal Reserve Board of Governors and choose new leadership. But more substantial changes could be in the offing.
Join Arizent and American Banker experts as they discuss whether bankers and other financial professionals got what they wanted from Trump's victory at the polls.
President Trump initiated changes at the Consumer Financial Protection Bureau in his first term, and the industry's frustration with the bureau has grown since he left office. But how far a second Trump administration can or will go depends on factors outside the president's control.
Once a crypto skeptic, Trump corralled tens of millions of dollars in industry support for Republican candidates by promising to make America the Bitcoin superpower of the world.
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Adam Schiff, known as a pro-cryptocurrency lawmaker, has also introduced bills that would regulate "revolving door" employment at banking regulators.
November 5
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California's 47th Congressional district, which is being vacated by Rep. Katie Porter, D-Calif., after her unsuccessful bid for California's senate seat, is being sought by law professor and Democrat David Min, who has been an outspoken progressive on banking issues. Running against him is Republican Scott Baugh, who ran unsuccessfully against Porter in 2022.
November 5
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The impact of both presidential candidates' fiscal promises around taxation and spending could have dramatic effects on the Federal Reserve's outlook for monetary policy, which has become more aggressive toward rooting out inflation.
November 5
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Investors brushed off a potentially prolonged week of U.S. election results and instead focused on fresh economic data.
November 5
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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.
November 5
