It's Election Day - be sure to get out and vote. With all the displaced folks in the Northeast, it will be very interesting to see how the polls go. Rest assured, attorneys representing both sides of the aisle will be out in force to be sure there is no fraud and every vote is cast.
How will Election Results Effect Our Interest Rates?
As far as interest rates are concerned, it really doesn't matter who wins the Presidential election, as there should not be a meaningful movement one way or the other.
There's a sense that if Obama wins, the Fed accommodation (QE3) will continue as planned, where if Romney wins, maybe QE3 gets unplugged sooner. With the economy limping along, we don't think the Fed is going anywhere, anytime soon – QE Unlimited will continue until the labor market and economy substantially improve. And no matter who wins, there is a lot of wood to chop before we see a meaningful pickup in economic conditions - the necessary component to stop the printing press!
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